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Strategies & Market Trends : Ask Vendit Off-Topic Questions
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To: sandintoes who wrote (8015)4/21/2005 6:43:28 AM
From: Walkingshadow  Read Replies (3) of 8752
 
All the overseas markets are trading up, oil futures down, index futures are up.

Earnings news so far this morning not particularly good, but nothing catastrophic either.

Initial Claims and Leading Indicators are out 1 hour before the open.

Unless these reports deviate markedly from consensus expectations, we are looking at a gap up at the open. From there, the market will finish higher on the day (i.e., a white candle). In other words, I expect a rally today, probably modest, but a rally just the same.

Yesterday we tested the support levels I expected. I thought this would happen today or tomorrow, but instead it happened yesterday. Now the market will move higher on a successful test of support.

.....all IMHO, of course.

T
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