For Monday, The Oxen Group is looking at a market that may be moving up early on the day, however, whether or not those gains will be able to be held throughout the morning is crucial. Going into Monday’s trading day, we are seeing futures up to extremely high levels, almost too high. The Dow is up over 80 at 8:00 AM. They are rising on a strong European market and Asian market. Japan was the only major market to close in the red thus far today. Other bullish news includes the AP Economic Stress Index report. The Associated Press said that “foreclosures stabilize in key states.” Further, we have good earnings coming in this morning from Humana and Tyson Foods. Humana saw profits rise 34%, beat estimates, and forecasted above full year estimates in there earnings report. Oil is up in early trading, and things are shaping up for a green start. However, the most important data, the ISM Manufacturing Index, does not release until 9 AM, and it will be very crucial to whether or not the market can open so positive and maintain any extended rally this morning.
Buy Pick of the Day…
