S&P futures are down 0.17% in morning trading
Crude oil futures are down 0.19%
Gold futures are down 0.39%
Bond Futures are down 0.17%
Turnaround Tuesday hits again. The S&P gave up its gains from Monday. We are still looking at the range of 2030 – 2080 on the S&P futures. We are close to the support level of 2030 as we are trading at 2036. Let’s see if the bulls can stage a rally today.
We have seen the Dow turn to state 2, a bearish signal. We are clearly seeing more indications of stocks turning negative. Keep an eye on the 2040 level in the S&P or 2030 in S&P futures.
This could also indicate a top for crude oil . Crude has reached its resistance at $49
Stocks that entered State 1 yesterday:
BABA ALIBABA GROUP HOLDING LIMITED
Stocks that entered State 8 yesterday:
ADI ANALOG DEVICES INC
TREE LENDINGTREE INC.
Today’s Economic Calendar
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