Back to consolidation: Market Pulse

U Posted by d Comments Off on Back to consolidation: Market Pulse

S&P Futures have entered another period of consolidation, price is trading within a three-day range into this morning’s open just beneath all-time highs. Daytraders will be looking to trade the highs and lows of the current range until said range is broken. I am continuing to eye support for possible long interest down in the 2800 area.

Gold Futures have made a slight break over critical resistance at 1362, but bulls aren’t holding this move. If price begins to drop below 1356 then I see downside prospects initially into the 1340 and then 1330 area. Will be playing this by ears after this morning’s bell.

Crude Oil Futures are ripping to new 52 week highs show sustained bullish control. The name of the game here is dip buying, thus I am eyeing support down in the 64 area initially for possible long interest

Stock Market Watch
KOPN has broken over critical resistance in pre-market trading at 3.66. Price is currently up 5.4% at 3.72… If price can sustain this break holding over premarket highs after the bell, then I see upside into the 4.00 territory.

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