Bulls Push Next Layer of Resistance

1:15pm (EST)

We are short on commentary today as we have been extremely busy this morning. We have added 2 new trades to our Daily publication and we added 1 new trade along with action for 2 current trades for our Weekly Wrap.

The bulls have managed to push the market higher ahead of today’s start of the FOMC meeting. The market is expecting some kind of action which is why we may be seeing a pop in the major indexes as we head into the second half of trading.

The Dow is currently up 131 points to 11,532 while the S&P 500 is higher by 14 points to 1,218. The Nasdaq is showing a gain of 23 points to 2,636.

Earnings will be back in focus as Oracle (ORCL, $28.92, down $0.10) will brief Wall Street with its latest numbers and a conference call after the bell. Analysts are expecting $0.46 a share on revenue of $8.35 billion. Oracle has been crushing estimates over the past four quarters and they could report another one.

We have a lot to cover today inside our Members Area so let’s get on it. We have gotten some nice pin action with today’s rally so let’s go see where we are at. We will be back in the morning with our next update.

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Bulls Push Next Layer of Resistance

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