Pre-market equity futures are solidly in the green for U.S. indices. Alcoa started off the earnings season yesterday releasing results after the close with so-so results. AA posted a loss of $.03/share, but revenues were slightly above analyst forecasts.
The S&P 500 has been trading in a very tight range since the initial big move on the first trading of the year. This tight price action is a welcome change from the hugely volatile trading we saw in 2011, particularly in the latter half of the year.
We could see a resolution to the standoff in many charts today if pre-market gains are extended and maintained throughout today's trading.
Here's a previous high, tight flag pattern to serve as a model.
No comments:
Post a Comment