Please enable javascript in your browser to view this site!

Morning comments pre-open- Wed 2/1

Fractional gains this am in US Futures and Europe.. most indices held where they needed to and importantly. NASDAQ held its trend from early Jan, while S&P failed to take out 2251 before turning higher-  2 key positives mentioned in video surround some positive momentum divergence out of Hourly S&P futures and that Volume was much more positive yesterday EVEN at the height of the decline.. with FLAT breadth vs 3/1 the prior day which was a big clue as to the ability of prices to rebound-  Now AAPL higher up to near 127 is a real positive for Tech, while yields still moving higher and should be good for Financials..  Additionally Healthcare reaching new multi-day highs is a real boost to the market.. so the 3 of these account for more than 50% of S&P and doing well-   The UK purchasing mgr index jumping to highest since series began in 92 is notable and something to keep an eye on as inflationary pressures mount-  For today, bullish bias right, with resistance just above at 2281-3 then 2287.. which I think should be exceeded and give confidence to moving back to highs-  while 2264-6 on downside-   Advancing issues this am premkt- VCEL, AAPL, TWLO, DRYS, MPC, OKE, while on downside- PBI, SGYP, MTCH, MBLY, SN-  Let me know if you have questions