Please enable javascript in your browser to view this site!

This week's pullback hasn't caused much technical damage

Fractional weakness out of US futures, while europe remains mildly positive.  Trend still argues for a push higher out of this consolidation, but S&P at this point is within 2 points of closing levels from 4/26.. and last Friday's breakout which was thought to lead to a push back higher, has instead stalled and largely consolidated those gains this entire week.  The pullback however has proven mild as we continue to trade within the range of last Friday's low to high range-  With earnings season coming to a close and turning out the best Earnings in 5 years..with a 70% beat rate.. there seems to be reasons for optimism.. yet we still are faced with far fewer stocks hitting new high territory than preferred with S&P within striking distance of new all-time highs-   For today. use yesterday's lows as important support 2379 down to 2375.. while 2393 importnat on the upside for JUNE FUTURES.   Trend higher in yields should lead Financials to one last push up and is thought to be something that ordinarily can lead Equities-   But a bullish stance still preferred heading into next week until/unless 2375 is breached, looking to press gains above 2393-  Premkt gains in HAIN, CA, P, NVGS, STNG, while on downside-  CAPR, TDW, AKTX, CYBR, JWN, KNSL, DDD, FOGO and GE-  Let me know if you have any questions

video Block
Double-click here to add a video by URL or embed code. Learn more