The bulls are pushing
hard against the bears this morning. S&P futures are currently trading in a
resistance zone from 1294-1296 (weekly R2-daily R2). Futures are trading at
about a 4-5 point discount to SPX... so technically, we are right at 1300 SPX.
Euro futures are
catching a bid as well... up about the same percentage as the S&P's. 1.2800
is the first level of major resistance for the bulls to overcome.
Oil's up and getting
comfy above $100, Nat Gas is down and getting comfy under $3, Copper's up, Gold
& Silver are up, and Treasury futures are down a bit. Tighten up your
trading helmet and fasten your seatbelts... it should be an interesting day.