ETF Range Projections & A Quote to Start the Day

Confidence is contagious. So is lack of confidence.

- Vince Lombardi

For more detailed economic data click “Today’s Calendar” in the navigation bar to the left.  

For the most part overseas markets are listless this morning: Nikkei 225 +0.86%, Hang Seng -0.54%, Shanghai -0.21% DAX -0.30% and the FTSE 100 -0.73%

At about 7:05 AM ET, more in line with European trading the futures are indicating a slightly lower open: Dow -23, S&P -2, NAZ -8, Oil -$0.81 and Gold -$2.40

have a great day!

Conflicting Signals

Yesterday the major averages went nowhere on the lightest volume so far this year. Can you say summer doldrums? However we had nice gaps higher in Bonds and Gold indicating a flight to safety.  Click images to make full size.

Interestingly however when doing some screening of our database of Optionable stocks last evening I came across the following; quite a number of stocks showing a positive divergence with our accumulation model indicating they may want to go higher over the short term. Which kind of flies in the face of a flight to safety, does it not?

Of course as the old cliche’ goes; “It’s not a stock market. It is a market of stocks.“