Friday 3rd February 2012

INDICIES - DOW JONES

Dow Jones Futures closed lower on Thursday and is poised to extend the rally off October's low. The midrange close sets the stage for a steady opening on Friday. Stochastics and the RSI are neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If the Dow extends the rally off October's low, last May's high crossing is the next upside target.

Friday 3rd February 2012

INDICIES - NASDAQ

NASDAQ Futures closed higher on Thursday as it extends the rally off October's low. The midrange close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off December's low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that shortterm top has been posted.

Friday 3rd February 2012

INDICIES - S&P 500

S&P 500 Futuresclosed higher on Thursday as it extends the rally off last October's low. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

The information set forth herein was obtained from sources which we believe to be reliable, but its accuracy cannot be guaranteed. It is not intended to be an offer, or the solicitation of any offer, to buy or sell the products or instruments referred herein. Any person placing reliance on this commentary to undertake trading does so entirely at their own risk.