Good morning. Happy Friday.
The Asian/Pacific markets closed mostly up – gains were not great. Europe is currently mostly down – losses are not too bad. Futures here in the States point towards a gap down open for the cash market. This comes off yesterday where the indexes closed at new highs for the week and have recovered about half of the massive sell-off that took place Thursday the 4th.
As stated yesterday, I believe the market is at a critical juncture regarding the near term. It’s either going to bust out and give us a mini move up or it’ll fall flat on its face. There are many charts near resistance, so something has to give. Here are the 30-min and 15-min SPX charts I’ve posted a few times this week. You can see where support and resistance are and other key levels.
Three day weekend ahead…the market is closed Monday.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers