Good morning. Happy Thursday.
The Asian/Pacific markets closed mixed. Europe is currently mixed and without any standout winners or losers. Futures here in the States are flat.
We got a big breakout day Tuesday and a relatively quiet churn day yesterday. Stocks in the cloud computing space (CRM, VMW, AKAM, CTXS, FFIV, AMZN) got crushed. Otherwise it seemed like most stocks were waiting for earnings season to begin and Friday’s employment numbers.
Here’s the SPX daily. Most technicians are eying the 1173ish area – the mid May high. I’ve been eying the upper trendline drawn below which I drew a couple weeks ago. So far it’s containing the movement, so I’m going to continue believing it’s significant until it isn’t.
Zooming in on the last two months, I see nothing wrong with the action. We got a big move off the Aug low…consolidation for a couple weeks…and now a breakout.
Keep an eye on the Nas. It hasn’t made a new high yet. The market goes nowhere without it.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Oct 7)”
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Hi Neal! Long time, no hear. I guess upon your return to Leavitt Bros.
I would interpret that as a sell signal. Yes, you were right about
Dow 11,000 and nobody beleived you, including me. HW Sell Gold,
brother, sell GLD. HW
Good to have U back Neal….the Bulls were waitng patiently for you to hold the Gate open…me thinks thou the Bears may be awakening from their snooze thou !