Futures and the DAX are positive, indicating a positive open. The market condition scans are showing a positive bias, but energy is still weak, indicating poor follow through. The market bias indicators are showing no directional bias. Volumes remain low on the indexes. Today is options expiration day, which may provide some volatility. From a news perspective, the only potential market moving news is the comments from Ben Bernake and home sales numbers. Unless the home sales numbers are substantially different than expected, the markets will likely continue to drift today, with a modest upward bias.
| Index | Change | %Change | Level | Phase |
| TSX | +13.68 | +0.13% | 10700.51 | Bullish |
| DJIA | +70.89 | +0.76% | 9350.05 | Bullish |
| Nasdaq | +19.98 | +1.01% | 1989.22 | Bullish |
| SP 500 | +10.91 | +1.09% | 1007.37 | Bullish |
| Russell 2000 | +7.03 | +1.25% | 568.68 | Bullish |
| NYSE | +74.12 | +1.14% | 6553.40 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a positive bias
Energy: weak
Primary Trend: sideways
| Sector | Phase |
| Consumer Staples | Bullish |
| Healthcare | Bullish |
| Technology | Bullish |
| Utilities | Bullish |
| Energy | Bullish |
| Financials | Bullish |
| Industrials | Bullish |
| Materials | Bullish |
| Consumer Discretionary | Bullish |
Source: Telechart
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