The stock market is hovering around the flat line today after the monster rally yesterday. The SPDR S&P 500 ETF (NYSE:SPY) is down just $0.19 (-.17%) on the day. If the markets can hold flat today, that will be a victory for the bulls. The real test on the markets will come in the last hour of trading when traders have to decide whether or not to hold into the weekend.
If the markets sell sharply into the close and end near the lows of the day, worry may continue into next week. If the markets close flat to positive, look for more upside early next week with a target on the SPY of $110.75 – $111.00.
Stocks are mostly flat as well. Key players that should be watched are Goldman Sachs Group, Inc. (NYSE:GS), Apple Inc. ((NASDAQ:AAPL) and Exxon Mobil Corporation (NYSE:XOM). These are all leading stocks and will tell us how the market is fairing.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
