Indexes inch higher in overnight trading: Market Pulse

U Posted by d Comments Off on Indexes inch higher in overnight trading: Market Pulse

S&P Futures posted a slightly new all-time high in overnight trading but is hesitating into this morning’s open. Day and swing traders will be considering any pullback at these levels for possible long interest. I still believe that swing trade support is down in the 2700 area, but it would take a lot at this point for price to get back down in that territory.

Gold Futures are beginning to hesitate here after last weeks run-up. Price is consolidating within last weeks range. I am still of the belief that price is going to correct off of these levels before, so at this point, I am looking for a downside break of 1307 to confirm short interest. If price does start to break down here then I am eyeing the downside into the 1270 area.

Crude Oil Futures are consolidating up against 52-week highs here, I am eyeing support between 60 and 59.30 for near-term long interest.

Stocks on Watch
AGEN is currently up nearly 15% in pre-market trading at 4.03 and is approaching critical resistance up in the 4.10 area. If bulls are able to gain any traction over that mark, I see a clear path back up into the 4.50 and then 4.70 area.

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