PRE MARKET
Markets are looking to open much higher and regain part of yesterday's ugly sell off. Interesting how the SPX topped yesterday at 1,523, the level of weekly resistance. Weekly support on the SPX is at the 1,473 level and we didn't quite get down to that level.
The 1,490 area still looks very important and if we regain that level the markets may pick up steam. That was the level of old support and near the blast off area from the first rate cut in September. The 2,105 level on the NDX is also the important level on that index and it is also close.
My strategy will be to buy pullbacks if these levels can be taken as I think we will rally into the end of the year. The QQQQ buy yesterday (51.5 area) doesn't seem so horrible now.
Captain Kirk has assembled a group of quotes from some market mavens about yesterday's Fed move.
Barry Rithholtz with his own Letterman humor.
Some analysis from Adam on the new VXV and even some Cramer humor.
Has Tax Hike Mike peaked?
And the latest Guru grades from CXO. Note how Cramer not quite at coin flip status.
The 1,490 area still looks very important and if we regain that level the markets may pick up steam. That was the level of old support and near the blast off area from the first rate cut in September. The 2,105 level on the NDX is also the important level on that index and it is also close.
My strategy will be to buy pullbacks if these levels can be taken as I think we will rally into the end of the year. The QQQQ buy yesterday (51.5 area) doesn't seem so horrible now.
Captain Kirk has assembled a group of quotes from some market mavens about yesterday's Fed move.
Barry Rithholtz with his own Letterman humor.
Some analysis from Adam on the new VXV and even some Cramer humor.
Has Tax Hike Mike peaked?
And the latest Guru grades from CXO. Note how Cramer not quite at coin flip status.
posted by DAVID at
8:15 AM
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