12:35pm (EST)
The market got off to a rough start this morning as futures were pointing towards a weak open following the latest G-20 meeting over the weekend. A decision from the group to delay key European aid decisions, as well as concern over rising oil prices, pushed the major averages down nearly 1% but the bulls have once again bought the dip.
Oil is currently trading at $109.04, down 73 cents and is at its highest level since last May.
January Pending Home Sales were up 2% versus estimates for a 1.5% increase as the Index came in at 97.
As we head into the second half, the market has turned higher and is once again pushing our fluff targets.
The Dow is up 22 points to 13,005 while the S&P is higher by 3 points to 1,368. The Nasdaq is showing a gain of 6 points and is at 2,970.
We have 2 NEW TRADES we are trying to get into so we need to cut it short. We only plan to be in the options for a week or so and we want to get them now while they are at a discount. Subscribers, check the Members Area for the new trades and updates. We will be back in the morning with our next update.