1:30pm (EST) Futures were showing a slightly mixed open for Wall Street today when we were doing our chart work last night and remained that way ahead of the European open. Futures were slightly weaker ahead of the opening bell and suggested today could be a wait-and-see session with flat
Market Gellin’ for Yellen/ New Trade!!!
Fed Does a Tap Dance, Market Surges to Record Highs
9:00am (EST) We mentioned Big Ben could be the wild card in the Fed’s final decision to taper or not to taper and Bernanke did what most on Wall Street figured he wouldn’t do. He slowed down the printing presses as the Fed cut back on its monthly bond purchases
Bulls Get a Gift
12:05pm (EST) It is always the darkest before dawn and when we hit the rack last night after finishing the Weekly Wrap, it appeared the bears would continue their assault on the bulls. Futures were down big-time following weak economic data out of China last night as their PMI (Purchasing
Bears Say Not so Fast
1:05pm (EST) Futures were slightly weak as we hit the rack last night ahead of the European open suggesting a lower open this morning but had recovered ahead of this morning’s Nonfarm Payroll report. Wall Street certainly traded off the headlines as the Unemployment Rate dropped to 7.3% from 7.4%
Flat Action Ahead of Bernanke/ New Trade!!!
12:00pm (EST) Futures were pointing towards a slightly higher open throughout the night after China’s GDP (Gross Domestic Product) met expectations after coming in at 7.5%. It remains to be seen if this is their “real” number but all signs are pointing towards a slowing China in the coming months
Bulls Continue Streak
9:00am (EST) The first day of May belonged to the bears buts it has been all bulls and no bull since as they ran their current winning streak to 5-straight session following Wednesday’s push higher. There was some early morning and a late day pullback off the highs but the
Market Slips a Smidge
9:00am(EST) The market traded lower on Monday ahead of this week’s big events as the bears tried to find an opening to slow down the bulls momentum. Much of the action stayed south of the boarder and the few attempts to turn green were brushed back, including the one in
We Can Work it Out
9:00am (EST) The President did his best Beatle’s impersonation but it didn’t help the market. The bulls made another feeble attempt at resistance and were hoping for some good news on the Cliff. Instead, the bears pushed them over it leaving the bulls hanging by a thread. The Dow
Trading Range Continues as Bulls Push Resistance, 2 NEW TRADES!
12:10pm(EST) Futures were showing a higher open throughout the night as they were up ahead of the European open and got stronger before the start of trading here at home. The bulls have managed to push resistance that was prior support as the indexes are up nearly 0.75%, on average.
Bears Have Another, Facebook (FB) Getting Zuckerberged
9:00am (EST) Yesterday’s market action reminded us of Saturday’s Preakness horse race as the bears “had another” to claim the photo-finish win. The bulls led the entire session as the Dow and S&P were looking to make it back-to-back wins for the first time since late April but the bears