Market Prep

clouds-aircraft-cockpit-skyscapes-HD-Wallpapers

Overnight, the broad market equity futures traded in a narrow range. The Euro traded down slightly against the Dollar. Some weakness noted in Asian and European markets. Weekly jobless claims and personal income and outlays are announced to the lay trader at 5:30AM.   Russell futures are near the 20 day simple moving average. My sense is that pressure is accumulating. Weaker jobless claims and personal income and outlays numbers could, more likely than not, push the broad equity markets to or below their 20 day simple moving averages. No big bad reversal patterns; nonetheless, further adjustments to the downside may be necessary.

This entry was posted in Uncategorized and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s