How a Kid With a Ruler Can Make a Million
A Lesson in Drawing and Using Trendlines
by Jeffrey Kennedy
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0645.ET
Far East Markets (except Japan) are Down slightly and Europe is Up nicely.
Japan is Up slightly.
US Markets/Futures are Up right now.
Precious Metals are Up and the US-Dollar is Down right now.
QQQQ/SPY are currently Trading at 44.56 / 111.99
QQQQ Resistance is at 44.50, then 44.68, then 44.92
QQQQ Support is at 44.14, then 43.80, then 43.40, then 43.17, then 42.8x, then 42.3x
SPX key Pivot Level = 1093 . . . see recent AMC Commentaries for more details.
There are Big Economic Events out today starting at 0830.ET … the news will drive prices today.
I expect the Markets to stay in their recent holding pattern without any big breakouts .. unless we get Big surprises from the News out today . . . I think the news might be used to bring Down QQQQ/SPY some before ramping them Up. Today will be the best day for an Up-side breakout.
Be sure to check back here tonight for my Commentary on today’s action.
AMC Commentary
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