US markets are closed today for the Memorial Day holiday. Canadian markets will be open, but volumes are expected to be lower than average. Tuesday, Canadian banks will begin reporting earnings starting with the Bank of Montreal. Thursday will be the big day, with many of the banks reporting on Thursday.
Microsoft has a new operating system currently in beta test phase. Windows 7 is slated to replace Windows Vista.
Futures this morning are flat, reflective of the US market close. The market bias indicators are showing some statistical bias for a bounce and the market bias indicators are showing virtually even numbers between momentum sell and momentum buy numbers, indicating we remain in a bottoming market condition with a sideways bias.
| Index | Change | %Change | Level | Phase |
| TSX | +43.83 | +0.44% | 9993.42 | Recovery |
| DJIA | -14.81 | -0.18% | 8277.32 | Recovery |
| Nasdaq | -3.24 | -0.19% | 1692.01 | Recovery |
| SP 500 | -1.33 | -0.15% | 887.00 | Recovery |
| Russell 2000 | -3.60 | -0.75% | 477.62 | Recovery |
| NYSE | +9.08 | +0.16% | 5789.62 | Recovery |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a neutral bias
Energy: moderate to weak
Primary Trend: Remains down to sideways
| Sector | Phase |
| Consumer Staples | Recovery |
| Healthcare | Recovery |
| Technology | Recovery |
| Utilities | Recovery |
| Energy | Recovery |
| Financials | Recovery |
| Industrials | Recovery |
| Materials | Recovery |
| Consumer Discretionary | Recovery |
Source: Telechart
Posts
No comments:
Post a Comment