Good morning. Happy Monday. Happy April. Hope you had a nice weekend.
The Asian/Pacific markets closed mixed. Indonesia (up 1.1%) was the only 1% mover. China, India, Japan and Singapore moved up; Taiwan moved down. Europe is currently mostly down, but there are no 1% movers. Futures here in the States point towards a slight down open for the cash market.
The dollar is flat. Oil is down, and copper is up. Gold is down, and silver is up.
I don’t have anything to add to my weekend report. The overall trend is up; the short term trend is neutral. With the latest employment report coming out this Friday and earnings season right around the corner, I wouldn’t be surprised if the market chopped around for a couple more weeks. If this scenario plays out, being ahead of the curve taking profits will be important. Once you get a decent move, take half off. There’s no sense risking a 5-10% gain if the market is going to roll around and not get much follow through.
Here’s the shorter term chart I’m working from. After a steady rally that went back to mid December, the S&P settled into a range that has persisted for two weeks. Friday’s close is smack in the middle of the range.
Don’t over analyze the market. It’s doing well overall and is currently resting. Know what time frame you’re trading before you enter a position. More after the open.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Apr 2)”
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nothing like buying at a 3 yr high going into a recession caused by high oil. what a shit sandwich
recession and inflation. we’re on a highway to hell
by saying they don’t see gas and food inflation and stoking the stagflation fire we are picking up speed toward a train wreck. this market has to pull back
whats cigarette inflation like over there,Russ
whats a carton worth these days
its highern hell, but the quality has really improved
$125 AUD’S per carton in oz equiverlant to about 135 usd’s
90% of that is tax
— a true oz story
in oz we call cigarettes–fags—oz slang
many years ago when i started to vist usa i would say to people
“im going outside to smoke a fag””
naturally that means something diferent in usa,which i learnt after 6 months
can’t people bring cigs in?
2 cartons per overseas trip
the sideways lunch hours–will we go higher into close
or back down into the sideways range
bastards have to get top dollar from any monthly inflows
sideways lunch hours allow my moving averages to catch up
for a possible intraday trend change
spx futures sitting right at the 20 ema and 24 sma on 2 minute chart
they’ve got in running like a roulette wheel. red or black. then sit motionless
It’s the engine that could.
yep. they can print until a dollar is worth a quarter. look our debt shrunk
All aboard…
well the m/a’s are ready to allow a intraday down move if they want
the spx said to the dow–“well i was once 21 and even got to 22.”
bombing iran must be worth around 500 sp points up