The futures this morning are positive, along with the DAX, which indicate a positive open. Market condition scans are still showing positive momentum, but with weak energy. The market bias indicators are showing some weak signals pointing to a possible pullback. This means that follow through remains suspect and swing trades are more risky.
Markets had a nice up day yesterday, with markets reacting positively to comments from the FED and the overall feeling that we are on the road to recovery.
| Index | Change | %Change | Level | Phase |
| TSX | +30.40 | +0.29% | 10659.87 | Bullish |
| DJIA | +120.16 | +1.30% | 9361.61 | Bullish |
| Nasdaq | +28.99 | +1.47% | 1998.72 | Bullish |
| SP 500 | +11.46 | +1.15% | 1005.81 | Bullish |
| Russell 2000 | +10.05 | +1.79% | 572.17 | Bullish |
| NYSE | +75.25 | +1.16% | 6538.87 | 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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