Tech Futures Say mE2
A moment of optimism has returned to stock index
futures after Vodafone said profits should increase next year at the world’s
largest wireless firm and that it beat earnings expectations. This turned the go
signal on to buy tech, with many issues opening more than 5% higher. Two of the
biggest point-gainers on the day are NASDAQ 100 stocks: i2
Technologies
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Diode Labs
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Three up signals from the
Market
Bias Indicators Page, an unusually high and critical-mass number, suggested
the downside in the Nasdaq 100 could be overdone (the Naz Comp hit a 52-week
low Monday) and that stocks index futures could rally. The indexes have traded
within a range after their initial gap up opening and are currently testing the
tops of Tuesday’s range. If they do not break their current session highs, look
for the indexes to fill their morning gaps in a decline.
Cold weather in the major heating fuel consuming regions
is boosting heating oil
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PowerRating)Â and
natural gas
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PowerRating). Nat gas leads the Momentum-5
List and heating oil and crude oil are also members. Nat gas
is currently etching a doji star, a candlestick bar that is indicative of an
exhaustion top.Â
Soybean meal is rallying and making good on a
(Copper) 1-2-3-4 Pullback From Highs List
setup. Â
Copper
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higher after hitting a four-month low Monday and is trading just below the
trigger of its Turtle Soup Plus One Buy
set up.Â
Also in the metals, silver
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PowerRating), from the Implosion-5 List,
is down for a third straight day and trading at a multi-year low.