Financials Leading The Broader Index Today So Far
Look at the XLF (blue line) leading the SPY up and away today so far.
Key Price Level For MGM Resorts (MGM)
We are watching MGM here near the $14 level. Over the past eight months that level has served as resistance and support on and of. MGM is back at that level again and any bounce from here could be a good long setup. On the contrary if the $14 level should fail a short setup […]
How’s This For Volatility:
Here's the dollar index futures contract intraday today. Volatile enough for ya? To me this just speaks to the massive uncertainty currently.
Friday Morning Market Thoughts
Boom! Nonfarm payrolls 54k vs 169k concensus expectations. The futures shaved off a quick 15 points on the back of this and are hovering around the $1295 mark. Yesterday's trade was marked by consolidation, which was to be expected after Wednesday's brutal beating. As laid out in the morning market video today, we don't see […]
Euro Stoxx 50, Dancing On Support Line
I wanted to point out the support area again on the Euro Stoxx 50 this early morning. The uptrend line has been solid support since May 2010 and that is again where price has meandered to over the past two days. It's make or break time here as far as I'm concerned. If we break […]