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- The Market Could Attempt A Breakout Next Week.
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After challenging major resistance at SPY 144 two weeks ago, the market pulled back 4.5% heading into the holiday weekend. When trading resumed this week, the market regained its footing. Minor horizontal support held at SPY 138. The economic news this week has been generally positive. Durable goods orders came in better than expected and excluding transportation they were up 2.4%. The GDP was revised upward from .6% to .9% and the price deflator (which does not include food or energy) was revised downward by .1%. Initial jobless claims came in at 372k, which was in line with expectations. Next week, …
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30 May, 2008| Derivatives |
@ 21:41