GE Boosts Market
S&Ps are trading near the highs at 1262.80 on news from GE.
The market continued to gain momentum after GE talked up futures earnings, sending its stock higher — and taking the Dow and S&P futures with it.
Locals were caught short on the move higher. But now the question is what will the lunchtime trade bring? For now we would suggest a nice seat on the sidelines until after lunch.
Keep in mind that the current level is even with yesteday’s close and Monday’s low. The 1270 area is the next big target on the upside.
NASDAQ is trading at 1912, also near the highs and looking a little better. Now that we’re above the resistance zone of 1900 to 1910, we have resistance at 1925 to 1935.