Archive for February 2010
The markets are currently set to open flat, the preliminary 4th Quarter GDP revision came in as expected at 5.9%. AIG also reported a $53/share loss this morning and should see very active trading during today’s session. Key levels to watch in the SPYs will be 110.25 and 109.40 for support. Resistance is at 111 and 111.70. Michigan Consumer Confidence @ 9:55AM and Existing Home Sales @ 10:00AM should move the markets.
The market is gapping down violently today, currently the SPYs are trading at 109.30 in premarket. Key levels to watch for the day are 109.50 for support, depending on where the market opens the next area of support is at 108.40. Should we attempt to stage a rally there is resistance at the 110.50 and 111 levels.