Before the Open (Jun 11)

Good morning. Happy Friday.
The Asian/Pacific markets closed with solid across-the-board gains. Europe is currently mostly up. Futures here in the States points towards a flat open for the cash market. This comes off a day the market rallied very nicely on below average volume.
I’m starting to see some improvement from some individual stock charts…some bearish patterns are starting to look like falling wedges. Lots of buying is needed to bust them out to the upside and there are many layers of resistance overhead in the form of traders/investors looking to get out even. But for now, the charts are at least a little improved.
Here’s the SPX 60-min I’ve been posting. For what it’s worth, it closed above resistance.

Steping back, here’s the daily. Everything that was gained during the move off the Feb low has been lost. A massive amount of bad news has hit the market, yet the S&P merely gave back what it had gained the previous couple months. That’s not so bad, is it?

As I’ve been saying, long term or short term…one or the other…don’t be middle of the road.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers