BG,
Tough call today. After hours sell off in tech despite a good earnings report from Intel.
Future Indicators very bearish. Looking for the Market to open well below yesterday's close.
And to top that off, there's a slew of reports before the Market's Open.
Jan 15 .....................................
8:30a Initial Claims
8:30a Retail Sales
8:30a Retail Sales ex-auto
8:30a CPI
8:30a Core CPI
8:30a NY Empire State Index
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12:00p Philadelphia Fed
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3:00p Treasury Budget
Theory, if the pre-market reports don't have a positive impact on the Future
Indicators, then would go DOWN for Thursday.
Future Indicators
It would take a very good Intial Claims number to help the Nasdaq today.
Looks like their headed for a sell off. MACD very high and MACD Histogram headed
down. Recent sideway's trading shows stalling momentum.
The Dow MACD has just reverse, meaning it should start on a down ward leg
to prehaps around 10,250. The MACD Histogram is also in a bearish trend below -0-.
Consider any more below 10,500 to be a bad sign.
Unless the Future Indicators are Positive , going to go with Down on Thursday.
The Market did have a big day, perhaps it gives a little back today.
either way, have a great day,
baz
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