Oil Up, Futures Higher

9:00am (EST) The bulls are looking to build on yesterday’s momentum as futures are pointing toward a higher opening this morning. The overseas markets have rallied this morning after Australia’s central bank raised interest rates. The bulls are taking it as a sign that a global economic recovery is on the horizon and they have pushed futures higher before the bell. As we head to press, Dow futures are up 68, to 9,614. The S&P 500 500 futures are up 8, to 1,045, while the Nasdaq 100 futures are higher by 8, to 1,686. On Monday, the Dow gained 112 points and closed at 9,600 while the S&P surged 15, or 1.5% to settle at 1,040. The Nasdaq will start the day at 2,068 after gaining 20 yesterday. Oil is trading above $71/ barrel following last week’s sell-off and can be attributed to a weaker dollar and the gains the overseas markets had. Subscribers, check the Members Area this morning for the trade updates. Rick@MomentumOptionsTrading.com ]]>

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