Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mostly up (China was the only one that dropped). Europe is currently up across the board. Futures here in the States point towards a small gap up open for the cash market. This comes on top of Friday where almost all the indexes made new highs and closed at their highs.
I don’t have much to add to my weekend report. The steadiness and consistency of the trend doesn’t seem normal – especially during earnings season and with the Goldman news, but it is what it is and I see no reason to fight it.
I’m not one for picking random levels and saying “that’s my target,” but if I were to do this, my S&P level would be 1254 – the top Bollinger Band on the monthly chart.
But right now the market is ignoring warnings of all kinds as it keeps going and going and going. Don’t fight it; don’t get lazy. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Apr 26)”
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I do a little frequency analysis on the market. The market has not acted this way since it bottomed in early October 1998 and went on a 16 week terror then suffered a moderate pullback in Feb. 1999.