The market looks to open a little lower than is closed at yesterday. All things considered we the bias remains to the upside as the tremendously bearish skew from a few weeks ago continues to get worked off. If you missed the market outlook video here it is.
Stocks resumed their afternoon buying frenzy yesterday, shrugging off a nasty morning reversal lower to end the day over 1% higher.
$SPY was near that key psychological $200 level before price action turned south. After the bell $DB announced a near $7 billion loss, which was unexpected. Initially the stock fell after hours, but today the stock finds itself higher pre-market.
Jobless claims are lower this morning, but in order to claim unemployment you need to have a job. The last jobs report continues the trend of a labor force with a lack of participation. People don't have a job to get unemployed from.
The S&P500 continues to rally off last Monday's lows. Yesterday brought the market up to strong resistance:
