PRE MARKETS

Markets are set to open near the unchanged levels on the heels of the good durable numbers just released. The fly, will the Fed cut if the econ numbers continue to out perform?

Anyhow, checking the technicals on the SPX- resistance at the 1,460 give or take number as it is the 50% retracement from the low at 1,370 and the high at 1,559. Not surprisingly, it is also near the 200 day SMA.

Next area of resistance assuming we can escape the 1,460 level and move higher- 1,500- which was touched on the last bounce after the initial market sell off.

Some interesting 2 day RSI levels:

SPX 84

OEX 94

DJIA 88

MID 66

RUT 40

SMALL GROWTH 55

SMALL VALUE 46

LARGE GROWTH 93

LARGE VALUE 84

NDX 76

Volatility indexes at very over sold levels and most trading about 17% below the 10 day SMA.

VIX 16.6% below

VXD 18.6% below

VXO 16.8% below