Visit Elliott Wave International to Download Your Free Report on Inflation and Deflation.
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0700.ET
Asian Markets are Down big .. Australian/European Markets are slightly mixed .. US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 41.88 / 104.80
QQQQ Resistance is at 42.00 – 42.20, then 42.50
QQQQ Support is at 41.40 – 41.60, then 40.80 – 41.00
There are no relevant Economic Events out today, except for the 3- and 6- month Bil Auctions at 1300.ET.
On mornings without news, there are usually no events to “excite” Buyers/Sellers to choose a side and have Volume come in . . . without those Volume spikes, it is harder to tel what Smart Money is doing and the Markets tend to be more slowly manipulated instead of a clear direction being shown.
SO … if I don’t see some nice Volume spikes after Down or Up moves, I would probably just stay in Cash today and watch/Relax.
AMC Commentary
Please Login to read the rest of this content.