Please enable javascript in your browser to view this site!

Stalling near all-time highs as near-term overbought conditions demand consolidation

Good am-  Most US Futures have fallen off from earlier highs, with S&P a bit overdone on a 1-2 day basis having rallied yesterday to within striking distance of March highs-  earnings coming in largely positive from PEP, UTX, PG, BA ,and most of the world waiting to hear on Trump's Tax plan blueprint today- US Dollar has regained yesterday's decline after USD Pulled back to lowest levels of the year but this is the one meaningful development-  Yields also have made significant move back OVER 2.32 intraday highs that marked Mondays highs and at 2.33% , have recouped the key area of support/ now resistance that had been violated.   Near-term.  equities a bit overdone after 50 point S&P rally over last 5 trading days, but pattern has improved and any weakness should prove minor and allow for buying opportunities with Financials and Industrials both kicking in of late and joining Technology-  Key areas to note for S&P -  2390-3 on upside while 2380 PIVOT and 2372-3 on downside initially then 2359-61-  Gainers for this am:  AKBA, MNOV, CETV, CIE, TWTR, PTN, EW, IRBT, OCN, ASPS, WYNN, KITE< MDCO,  and on downside-  X, FLXN, CREE, CAPR, ENDP, CLF, CYTR-  Let me know if you have any questions