Trading Plan: More of the Same

From SharePlanner
January 4, 2013 - 9:57am

Pre-market update (updated 9am eastern): Europe is trading 0.2% higher.  Asian markets traded mixed from -0.4% up to +2.8%.  US futures are trading slightly higher ahead of the bell.  Economic reports due out (all times are eastern): Employment Situation (8:30am), Factory Orders (10am), ISM Non-Manufacturing Index (10am), EIA Natural Gas Report (10:30am), EIA Petroleum Status Report (11am) Technical Outlook (SPX): Slight pullback for the markets today, which was really a good thing for the markets to have yesterday, to help bring some order back into this market.  There is still a huge gap on the SPY chart that ultimately needs to be filled.  A push above 1474 on the SPX would break the market out to new post recovery highs.  The Russell Index is actually hitting all time highs.  The consolidation, in a perfect world, shouldn't pullback further than ...

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