Oracle will be buying Sun Systems for $9.50/share. Bank of America (BAC) has beat expectations.
Oil continues in its sideways trend in a wide channel from about $47 up to $53. Gold and silver remain in their sideways trend as well.
As of this writing, futures are negative and the DAX is negative, indicating a down open. The market condition scans are still a very weak positive bias, indicating a possibility of a positive close. The market bias indicators are showing bearish signals indicating once again a choppy indecisive market that remains in a bottoming condition.
| Index | Change | %Change | Level | Phase |
| TSX | +94.28 | +1.01% | 9437.65 | Recovery |
| DJIA | +5.90 | +0.07% | 8131.33 | Recovery |
| Nasdaq | +2.63 | +0.16% | 1673.07 | Recovery |
| SP 500 | +4.30 | +0.50% | 869.60 | Recovery |
| Russell 2000 | +5.49 | +1.16% | 479.37 | Recovery |
| NYSE | +26.33 | +0.48% | 5480.60 | Recovery |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a neutral bias
Energy: moderate
Primary Trend: Remains down to sideways
| Sector | Phase |
| Consumer Staples | Recovery |
| Healthcare | Bearish |
| Technology | Recovery |
| Utilities | Bearish |
| Energy | Recovery |
| Financials | Recovery |
| Industrials | Recovery |
| Materials | Recovery |
| Consumer Discretionary | Recovery |
Source: Telechart
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