Good morning. Happy Monday. Hope you had a nice weekend. The Asian/Pacific markets closed mostly up…Europe is currently mostly up…futures here in the States indicate a gap up open for the cash market. This comes off a 5-day winning streak for the S&P and a 12-out-of-14 up days going back to December.

Good morning. Happy Wednesday. When the range is tight, the market can quickly oscillate between a period of no bias (when the indexes are smack in the middle of their ranges) to a “moment of truth” scenario. Such is the current situation.

Good morning. Happy Friday. Empolyment numbers are out. Here are the headline numbers. unemployment rate is 10% (same as last month). hours worked moved up 0.2% (also same as last month). The initial reaction was down – not a forceful move…just a couple points for the S&P futures.

Good morning. Happy Thursday. The Asian/Pacific markets closed down; Europe is currently mostly down. Futures here in the States suggest a gap down open for the cash market. The market has been up 10 of the last 12 days, and other than very brief end-of-day selling on Dec 31, there hasn’t been much selling pressure. […]

Good morning. Happy Wednesday. 2010 has started off on a good note. A big up day Monday on so-so volume was followed by a small up day on bigger volume yesterday. The trend remains solidly up, but the action isn’t screaming bullish. Instead of breaking out, the indexes seem to be grinding and drifting up.

Good morning. Happy Tuesday. 2010 started off on a good note. Most indexes made new highs, and about 95% of the market groups gained ground. If there’s any truth to the first week of January and the entire month of January being a good barometer, we’re off to a good start. But it is only […]