The September NASDAQ 100 closed sharply higher on Friday as it extended the rebound off Wednesday's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and
the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends today's rally, the reaction high crossing at 2658.00 is the next upside target. Closes below would confirm that a trend change has taken place while opening the door for sideways to lower prices near-term. First resistance is the reaction high crossing at 2658.00. Continue reading "Monday Morning Index Commentary"
US futures flat ahead of Geithner-Draghi meeting
U.S. stock futures were flat Monday as Treasury Secretary Timothy Geithner headed to Europe, where the latest economic data suggested a tricky path to recovery.
Dow Jones industrial futures fell 20 points to 13,013 and the broader S&P futures gave up 3.4 points to 1,379.10. Nasdaq futures gained 2.75 points to 2,644.75. Continue reading "US futures flat ahead of Geithner-Draghi meeting"
Rally On Wall Street Drives Dow Back Above 13,000
(RTTNews) - Stocks moved sharply higher over the course of the trading day on Friday, adding to the strong gains posted in the previous session. The markets benefited from some relatively upbeat U.S. economic data as well as the latest news out of Europe.
The major averages ended the day firmly in positive territory, with the Dow closing above 13,000 for the first time in well over two months. The Dow jumped 187.73 points or 1.5 percent to 13,075.66, the Nasdaq soared 64.84 points or 2.2 percent to 2,958.09 and the S&P 500 spiked up 25.95 points or 1.9 percent at 1,385.97. Continue reading "Rally On Wall Street Drives Dow Back Above 13,000"
The Euro may have topped out on Friday
What do you think? Please feel free to leave your comments.
Adam
Chart to Watch
We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the ETF - SPDR Gold Shares (GLD) Continue reading "Chart to Watch"
