sp'60min
Summary
*awaiting a trio of econ-data: jobs, retail sales, business inventories
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So, we're set to open a little lower, and the 50 day MA might be taken out by 11am.
re: targets
I'm somewhat cautious in the viable downside, and we could easily get stuck at 1800 or 1790. I had noted the 1780s yesterday, but that is going to be increasingly tough to hit.
Regardless, I have to think we'll see broader upside across March, and possible April.
As ever...one day at a time....
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Notable early gainer: UGAZ +4%, but that sure could flip negative, if the Gas report this morning comes in favourable to the bears.
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8.20am.. sp'-10pts, we're borderline breaking the 50 day MA in pre-market. This does bode well for the bears.
sp-15/20pts by 11am to 1805/00..then a micro bounce.
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8.32am..jobs and retail sales..kinda weak...
sp'-11pts.. we're set to open 1808
8.37am... -13pts.... 1806. A test of the big 1800 now looks likely by late morning.
UGAZ picking up.. +6%
9.16am... sp-11pts..we're still set to break the 50 day MA at the open.
Notable weakness: CSCO -4.1%