Good morning. Happy Wednesday. For now the consolidation continues. Two Monday’s ago the market broke out, but little follow through has been seen. For 6 straight days the indexes have been range bound, but things will get interesting at today’s open. Premarket futures trading suggests a large gap up, so we’ll get a chance to […]

Good morning. Happy Tuesday. It looks like we’ll begin the day with a small gap up. Futures are trading up a couple points. Yesterday was pretty dull until the last hour when the market surged higher and then gave half the gains back into the close. Other than the Friday before Memorial Day weekend, volume […]

Good morning. Happy Monday. Hope you had a nice weekend. The indexes made new highs last Friday but then sold off immediately and closed with small losses. Supposedly the number of people filing to collect unemployment dropped yet the unemployment rate increased more than expected. The trend continues to be up, so my bias remains […]

Good morning. Happy Friday. Payroll numbers are out. The unemployment rate has jumped to 9.4% from 8.9%. The expectation was a jump to 9.2%. Doesn’t seem very good, but the number of newly unemployed was less negative than expected (-345K vs. -520 consensus) and last month’s figure was revised down from -539K to -504K. The […]

Good morning. Happy Thursday. The market gave a little back yesterday. It’s not what I wanted to see, but it is what it is. Given Monday’s breakout, I would have preferred some more upside movement so we could get some separation from the former resistance level. Then the move would have looked like a more […]