Before the Open (Dec 6)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mixed and with a bullish bias. Europe is currently mixed with a bearish bias. Futures here in the States point toward a gap down open for the cash market. This of course comes off three very good days which put the small and mid caps at new highs and the large caps right at their early-Nov highs.
By some measures there may be too much bullishness in the near term. Within the S&P 1500, there have been more than 1000 advancers for three straight days. It’s been three months since this has happened, so in the near term the market may need to rest but overall I fully expect the uptrend to continue.
Otherwise I don’t have anything to add to my weekend report. The market has gone from consolidation mode to clicking on all cylinders in just a couple days. Here’s the 60-min SPX chart. It’s not “in the clear,” but it’s doing well. 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 (Dec 6)”

  1. Ground control to Major Tom. Ground control to Major Tom.
    Neal: When you are flying an airplane at 33,000 feet and
    you see storm clouds ahead you don’t need any technical
    indicators to tell you to change course//Now even Bernanke
    is getting worried that QE2 may not be enough to get us
    out of the hole and it hasn’t even been deployed yet. HW

  2. Pingback: Before the Open – Dec 6 (SPX, rated BUY) | Investors Paradise

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