Weekly Review of Select Sector SPDRs Technology · Intermediate trend is up. The intermediate trend line has been broken. Support is forming at $28.80. Resistance is at $30.62. · Trades above its 20, 50 and 200 day moving averages. · Short term momentum indicators are overbought. · Strength relative to the S&P 500 Index [...]

Pre-opening Comments for Wednesday May 2nd U.S. equity index futures are lower this morning. S&P 500 futures are down 7 points in pre-opening trade. Index futures moved lower following release of the April ADP Private Jobs report. Consensus was a decline to 175,000 from 201,000 in March. Actual was 119,000. The ADP report is thought [...]

Pre-opening Comments for Tuesday May 1st U.S. equity index futures are mixed this morning. S&P 500 futures are unchanged in pre-opening trade. Traders are waiting for the April ISM report to be released at 10:00 AM EDT. Consensus is decline to 53.0 from 53.4 in March. Trading activity in North American equity markets is expected [...]

Pre-opening Comments for Monday April 30th 2012 U.S. equity index futures are lower this morning. S&P 500 futures are down 3 points in pre-opening trade. Index futures are responding to news that Spain has entered into a double dip recession. In addition, Standard and Poor’s downgraded 16 Spanish banks due to their holdings of Spanish [...]

Pre-opening Comments for Friday April 27th U.S. equity index futures are higher this morning. S&P 500 futures are up 4 points in pre-opening trade. Index futures moved slightly lower following release of preliminary first quarter GDP. Consensus was an annualized gain of 2.6% versus 3.0% in the fourth quarter. Actual was 2.2%. Business investment and [...]