1:35pm (EST) Give the bulls credit. They are trying like hell to push this market though resistance. Despite a nasty jobless claims report, 2 out of the 3 major indexes have pushed through our price targets as both the Dow and S&P 500 have cleared our fence. All we areRead more
Rollout The Red Carpet…Dow 11,000 Hit
Futures Lower As Unemployment Rate Remains at 9.6%
9:05am (EST) In was a flat day on Wall Street yesterday although the market zigzagged on both sides of the ledger before ending mixed. It seemed as if both the bulls and bears were hesitant ahead of last night’s “official” kick-off of the third quarter earnings season and knowing this morning’sRead more
Dow 11,000? Not Yet
1:05pm (EST) The bulls are trying to push past our resistance targets for the major indexes after getting a better-than-expected jobless claims report. Initial jobless claims came in at 445,000 versus the expected 455,000, while continuing claims were 4.46 million versus expectations of 4.45 million. This gave futures a liftRead more
Bulls Want More, TiVo (TIVO) Pops
9:00am (EST) The bulls got a warning sign from the bears yesterday although the market held up rather well after hearing the private sector employment index unexpectedly dropped by nearly 40,000 in September. The report was released before the opening bell and knocked the futures lower as soon as the news was released. This typeRead more
Bulls Hold Camp Despite Negative News
ADP News Dampens Bulls Mood
9:00am (EST) “I think it’s time we stop, hey, what’s that sound? Everybody look what’s going down…” Buffalo Springfield knew what was going on. These famous lyrics came to our mind yesterday when Tuesday’s closing bell sounded as Wall Street had a banner day and the bulls looked invincible. The market shot higher at theRead more
Once Again, Bulls Push Resistance
1:10pm (EST) The market started off strong as futures were already pointing towards a higher open but the bulls have extended today’s gains after getting some better-than-expected economic news. We aren’t sure why there is a race to debase currencies around the world but today’s push can be attributed toRead more
Futures Pointing Towards Higher Open
Microsoft (MSFT) Gets a Downgrade
Genzyme (GENZ) Gets Same Bid
9:05am (EST) Futures are pointing towards a slightly lower open this morning despite another round of M&A news as Wall Street kicks off the start of the week. There are a couple of economic reports due out this morning which could impact trading, pending home sales and factory orders forRead more