Before the Open (Sep 17)

by admin on September 17, 2010
in Before the Open

Good morning. Happy Friday.

The Asian/Pacific markets closed mostly up – there were a couple 1% winners. Europe is currently up across the board – gains are small. Futures here in the States point towards a small gap up open, but this could change an hour before the open when CPI numbers are released.

It’s been a relatively quiet week. The market gapped up Monday and has traded in a tight range since. Considering the short term overbought nature when the week began and all the econ news released, this isn’t a bad thing. The market needed to rest, and instead of resting by doing some backing and filling, it has rested by moving sideways. This means that other than slightly working off the overbought condition, nothing has changed. The market is still very close to the high of its 4-month range, and until we get a forceful breakout, it’s not wise to aggressively back up the truck.

Here’s my S&P daily. Targets are 1130, 1150 and the high 1170’s.

More after the open.

headlines at Yahoo Finance

today’s upgrades/downgrades

this week’s Earnings Reports

this week’s Economic Numbers


Comments

One Response to “Before the Open (Sep 17)”
  1. tom power says:

    yes wish i had been in it, cramer says its going to 350.

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