The stock market staged an impressive rebound Monday, even though the major averages did close lower. The S&P futures dropped to a low of 1955.50 in early trading but then closed the day at $1968.50. This is a sign that there are buyers at lower levels, which is a positive for the overall market. The futures are showing moderate gains in early trading while the EuroZone markets are also higher in early trading. The daily technical studies are still negative but are trying to bottom out. Yesterday’s Dallas Fed Manufacturing Survey was better than expected so the market will be watching today’s Chicago PMI report. Also out today is the S&P Case-Shiller HPI and Consumer Confidence Index. Some industry groups have corrected back to first good support and led the market higher in Monday’s session. The semiconductor stocks did well yesterday and a review of an industry ETF as well as three stocks presents new opportunities to buy.
from Forbes Real Time http://ift.tt/1ouOIh6
from Forbes Real Time http://ift.tt/1ouOIh6
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