BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0730.ET
World/US Markets are Up
QQQQ/SPY are currently Trading at 42.82 / 107.35
QQQQ Resistance is at 42.62, then 43.0x, then 43.30
QQQQ Support is at 42.4x, then 42.10, then 41.70, then 41.50 – 41.3x, then 40.80, then 40.20
There are some Economic Events out this morning starting at 0700.ET . . . the MBA Purchase Applications has already come out very positive.
Read my Commentary on the important Earnings Releases this week that will help determine overall Sector direction and Economic ramifications.
ConAgra Reported last night:
Use Monday’s Chart-2 as a guide for break-outs . . . this morning I will be AGAIN looking for an initial run up to the top of that range and even a little higher (42.7x – 42.8x) … and will be looking for a Reversal Down Signal to Open a Down position . . . if there is no Reversal Down position, then I will just watch and see how QQQQ reacts to any break-out higher.
AMC Commentary
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