S&P Futures continue to consolidate up against all-time highs with no real conviction over the last few days. Day traders will be watching the highs and lows of the current range as an indication of what to expect moving forward. If price begins to break lower, I am eyeing initial support down at 2769 for possible longs. Remember that dip buying is continuing to work very well on even the mildest of pullbacks, so keep an eye on those lower time frame support areas.
Gold Futures have bounced off of yesterday’s lows and are pushing back up toward this week’s highs. Current overhead resistance remains intact between 1339 and 1344 which traders will be eyeing for possible short interest.
Crude Oil Futures have made a downside break of its previous range and are dropping into initial support here in the 62 area. Watching for a possible reversal on a retest of that area to support longs, but if the pattern is not clear enough I will look to secondary support at 60.
Stocks on Watch
SIEN is getting a strong pushing into this morning’s open. Price is up 8.4% in pre-market trading at 11.20 and looks like it has upside into the 13.00 area here.