Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mostly down; Europe is currently up across the board. Futures here in the States point towards a moderate gap up open for the cash market. This comes off a down week where the market was strong Mon and Fri and week in the middle.
I don’t have much to add to the charts posted over the weekend. The overall trend is up; there is no short term trend. The market has been in consolidation mode for almost 6 weeks. Dips are getting bought; rallies are getting sold; the market is gapping often. In the end, the indexes have been range bound. The small caps have strengthened lately, but the banks are still lagging. Here’s the daily SPX – just a choppy mess, but we’ve had many good trading opps. As long as you’re ahead of the curve taking profits, there’s been a lot of money made.
That’s it for now.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers