We will open higher based upon some high profile mergers in the Oil & Retail Pharmacy sectors. 1) Watch to see if we hold any of the gains towards the end of the day. 2) Compare this Merger Monday to Merger Monday`s in November which typically would push the dow up 125.00, to judge relative strength of the market at these elevated levels. 3)Market Focus ... Monday - Dec 18, 2006 Another gain in the NAHB-WFC housing market index would boost rising expectations that the worst of the housing slowdown is over. 4) key economic data released Tuesday. ICSC-UBS Store Sales 7:45 ET Housing Starts 8:30 ET Producer Price Index 8:30 ET 5) How does the dollar hold up this week? Does it give back some of its recent gains this week?
this is what I would watch out for today: march07 ES pivot point of 1440 -- if the market trade below this point, the bulls are at bay. A correction is possible. -- If the market breaks this point, the bulls are still in control. The market will contest R1 at 1442.50.
I will also watch the QQQQ`s to see if they break through the Nov. 24 high of 44.86, which I doubt will happen.
looks like you have already MADE the decision on the market, the same way you did with your "sky is falling" prediction.
doubt it - these numbers are just final corrections to what everybody already knows (this is their 3rd release)
I look for the QQQQ`s to be under 43 in 4 weeks, if they were going to bust through the previous resistance it would have happened last Friday. Good point about the GDP report, that could really move the market if its a negative number.
If you mean lower, don't bet on it....we're still in "Goldie Locks" mode here.....bad news is good news, good news is great news. A low GDP would indicate a likely Fed rate cut.
the markets look pretty tired right here! 60 billion in MA activity, and this is all you got? sell-off coming