Please enable javascript in your browser to view this site!

Equities remain bullish, & China extends recent breakout

Global equity strength continues with most of Asia continuing recent China breakout-  Europe rising for 5th straight day, the longest trend of the year.. while US futures mildly positive. and key upside resistance near 2318, with over leading up to 2323-6, a better area to consider selling into this move-  For early in the week, Upside limited, but still could have a positive first couple days before stalling out and giving back some of recent gains-  so trend stretched, but still no real evidence of selling and best to keep trailing stops and look to sell into strength into Tues/Wed-   This week we'll see Yellen testimony which could be important in her trying to prep the market for a possible March rate hike, in offering more hawkish testimony.. as other Fed governors have suggested rate hike could happen, but market still not ready, as fed futures show just a 30% likelihood- US/Canada meeting today also potentially important, as Trudeau coming to DC to meet Trump-  while inflation data back on the forefront with US data this week along with UK tomorrow-  Overall, Equities bullish but overdone, important to be selective, and expect reversal sometime this week, so good to sell into strength- Yields and DXY still pressing higher- and both Gold and oil lower - Saudi Arabia telling OPEC it cut output by the most in 8 years-  early morning GAINERS in PLX, IMMU, PLUG, PIP, TEVA, M, CLF, CRNT, while on downside- HAIN, and PERI-  Let me know if you have any questions