After a day of pretty hefty gains and months of racing back to the 10k mark on the DOW, the market may be looking to cool down some. Futures are currently trading flat with the Dow up 2 points, the NASDAQ down 1.5 and the S&P unchanged. Overnight Asian markets responded well to the US rally, seeing gains from 0.2% all the way up to 1.8%. Finally European markets are slightly in the red.
More earnings reports today as Citigroup (C), Goldman Craps (GS), Google (GOOG), and IBM being the big ones. We also have CPI report, Jobless claims, and a manufacturing survey out this morning, with jobs obviously being the most important one.
Interesting how there is no price move in either direction to get ahead of the earnings reports. Perhaps the bulls have exhausted their resources.
Here are Today’s Trade Setups…
Long Setups: CPT, CW, HRZ, MSO
Short Setups: BWA, CELL, DGII, ENER, GCA, RINO,