Hi,
>>>> Does anyone have a comment about the Utilities today? Looks like a nice move up! <<<<
It appears that the UTY may be in the process of forming a DOUBLE-BOTTOM, which would imply that rates may not be going up much more. Of course it could reverse, so it is a bit early to confirm the DOUBLE-BOTTOM.
My 3-DAY pattern for the DOW, so far, is not working since DAY-3 should be down strong. I realise that the economic report was good, so I am assuming that such could be skewing my technicals. Prior to the report the futures were down but reversed after the report, so may DAY-3 had a chance of working.
I have also noticed in the past that if DAY-3 fails, it is bullish, however we have another economic report tomorrow which send the market down hard or up. IT'S PING-PONG TIME, bouncing from one economic report to another.
Just want to mention that more than half have announced earnings, so the focus will probably intensify towards the economic reports as earnings announcements comes to an end.
As I always believe, news/fundamentals, if strong enough, can skew/over-ride the technicals. So does anyone have a crystal ball to see how the GDP/ECI reports tomorrow will turn out. gggggg
seeya |
