Your MUST-READ Morning Stock Futures Cheat Sheet: Still rangebound

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The Precise Take – Still rangebound

Big Picture Analysis:   The markets continue to run with news in both directions, as a European short selling ban yesterday afternoon begat weakness, and beats on Jobless Claims and GDP have facilitated a minor rally, as we write.  We’ve little to add to recent commentary.  Upside potential is likely limited to a short squeeze, while risk of a downside fallout remain.

Trading Today:   Below are marked the support and resistance areas.

Today’s  Scheduled News (all times EDT)

Major Market Movers
Pending Home Sales at 10:00 am

Minor Market Movers
7 Yr Note Auction at 1:00 pm

Tomorrow’s Scheduled News

Major Market Movers
Chicago PMI at 9:42 am
Consumer Sentiment at 9:55 am

Minor Market Movers
Personal Income and Outlays at 8:30 am


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