Rough week for the bulls last week, and despite the early morning strength we are seeing, no one is overly enthusiastic as they had been for the past seven months. Overnight, the Asian markets were mixed with no major moves in either direction for any of the indices. European markets are trading with positive gains but they are nominal at best. Right now, US Futures are showing gains of 47 points on the Dow, 11 on the Nasdaq and 6 points on the S&P.
On the news front, the only piece of news we are expecting today is the ISM Non-Manufacturing Index, which should be a market mover based on how the market reacted to some of the manufacturing news from last week.
Here are today’s trade setups…
Long Setups: AOI, BKI, COT, FFCH, INCY, LRN, PNCL, TAM
Short Setups: LQD, AIQ