S&P futures are up 0.21% in morning trading
Crude oil futures are down 0.21%
Gold futures are up 0.10%
Bond Futures are down 0.29%
The S&P futures broke thru the 2030 level that we have been talking about for some time now, reaching 2022. The bears were not able to hold it, and the market closed back above 2030 and is currently trading at 2043. We are still in this range of 2030 -2080. As we noted yesterday, the SPX model turned slightly bearish, expecting a 2% downside move. At key2options, we not only tell you the current state but also the next projected State. The Spx has a 63% chance of returning to State 1. It has a 35% chance of turning more bearish.
Crude oil is looking weak on the charts. An “M” formation as appeared on the one hour chart and we would expect to see Crude Oil reach the 47 level in the next day or so. Currently crude oil is trading at 48.60.
The VIX has had a nice run, but it looks to be overdone. Look for a pullback for the next couple days.
Stocks that entered State 1 yesterday:
NTRS NORTHERN TRUST CORP
Stocks that entered State 8 yesterday:
FINL FINISH LINE INC CL-A
PAY VERIFONE SYSTEMS INC.
Today’s Economic Calendar
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