This is a guest post from Precision Capital Management
The Precise Take – Equity futures strong ahead of open.
Big Picture Analysis: Only a few words today as we were having some minor technical problems earlier. As can be seen in the chart below, yesterday the ES bounced at the lower end of the trend channel, leaving it intact, and hit minor trendline resistance on CPI and the Jobless Claims reports this morning. We had entertained the possibility of a strong dip into Friday morning, but as long as 1103.50 holds, it is increasingly unlikely.
Leaders Analysis: The leaders are in a holding pattern and are equities neutral. The 30 Year yield continues to consolidate and will breakout imminently. The Dollar is at fairly strong support and the Euro at strong resistance. They could…
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