Technical Action Yesterday Technical action by S&P 500 stocks was bearish yesterday. Two S&P 500 stocks broke resistance (Estee Lauder and SunTrust Banks) and sixteen stocks broke support (Bemis, Boston Properties, Carefusion, CME Group, Coach, Rockwell Collins, CSX, Express Scripts, Fedex, Goldman Sachs, Illinois Tool Works, Life Technologies, Newmont, Waters Corp, Exxon Mobil and [...]

Pre-opening Comments for Thursday January 21st U.S. equity index futures are slightly lower this morning despite a series of encouraging fourth quarter earnings reports. S&P 500 futures slipped 1 point in pre-opening trade. Futures moved lower after the weekly jobless claims report came in worse than expected. Jobless claims rose 36,000. Consensus was a small [...]

Pre-opening Comments for Wednesday January 20th U.S. equity markets are lower this morning. S&P 500 futures are down 8 points in pre-opening trade. Traders took profits in the shares of companies that reported fourth quarter earnings overnight. Futures moved slightly lower after release of December economic news at 8:30 AM EST. December housing starts fell [...]

Pre-opening Comments for Tuesday January 19th U.S. equity index futures are slightly lower this morning. S&P 500 futures slipped 1 point in pre-opening trade. Futures weakened slightly after Citigroup reported fourth quarter results. Citigroup reported a loss of $0.33 per share, in line with consensus. However, revenues were less than expected. Cadbury announced acceptance of [...]

Pre-opening Comments for Monday January 18th Equity markets are mixed and quiet in this morning. Canadian equity markets are open, but U.S. equity markets are closed for the Martin Luther King Jr. holiday. U.S. equity index futures are slightly higher with S&P 500 futures up 2 points in pre-opening trade. The Canadian Dollar added 0.38 [...]