Futures are marginally positive this morning along with the DAX, suggesting a flat to slightly positive open. The overall market energy is weak, with no strong bias from either the market condition scans or the market bias indicators. Many stocks with steep angles of ascent continue to hold potential for additional profit-taking.
We are seeing some merger activity, with the announcement this morning of Xerox buying Affiliated Computer Services (ACS). Abbot Labs (ABT) has also struck a deal with a Belgium company.
| Index | Change | %Change | Level | Phase |
| TSX | -73.37 | -0.65% | 11212.39 | Bullish |
| DJIA | -42.25 | -0.44% | 9665.19 | Bullish |
| Nasdaq | -16.69 | -0.79% | 2090.92 | Bullish |
| SP 500 | -6.40 | -0.61% | 1044.38 | Bullish |
| Russell 2000 | -2.81% | -0.47% | 598.94 | Bullish |
| NYSE | -38.80 | -0.57% | 6823.51 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a neutral 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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