Thursday’s Futures Setups

The Standard & Poor’s 500
Index rallied
to its best gain in five weeks, up 2.4%, with General Electric contributing to
the positive move. The S&P 500 rose + 20.36 to 839.65.
The S&P 500 cash index
(
$SPX.X |
Quote |
Chart |
News |
PowerRating)
rallied nicely today to hit the 1.50 Volatility Band and formed a double top
just before the close. It looked as if the S&P would sell-off at the end of the
market but it sustained the gains before closing. This gave some heads-up
traders some nice profits on the Dec. S&P 500 futures
(
SPZ2 |
Quote |
Chart |
News |
PowerRating). The
SPZ2 ended at 841.50, up 20.69, a 2.52% gain.

The
Nasdaq rallied to a 3.2% increase on the day, the largest gain in three weeks.
The strong performance by Biotech, Semiconductor, and
Networking sectors were key players in today’s rally. The Nasdaq gained
+40.10 to end at 1222.27. The Nasdaq 100
(
$NDX.X |
Quote |
Chart |
News |
PowerRating), an index comprised of the Nasdaq’s 100 strongest companies,
rallied and was close to hitting the 2.0 Volatility Band (850) before pulling
back to close at 880.44. The NDX had a nice day today gaining 36.83. The Dec.
Nasdaq 100 futures
(
NDZ2 |
Quote |
Chart |
News |
PowerRating) rose 33 or 3.89% to end at 882.

Possible long candidates: