Midsession Comments for 1/28

SPH:Holding near the session highs. 865.75 was a high from last week. Watch for the FOMC announcement at 1 PM.
NQH:Really took off this morning. 1228 is next resistance. Bullish MACD crossover coming.
ZBH: It’s a momentum sell short day today; the tight range and doji are probably lining up for a move after the FOMC.
BPH:14424 is Fib resistance, it’s also the area of a downtrend line off this month’s swing highs.
CDH:Big rally from an ID/NR setup; 8258 is Fib resistance.
GCJ:Downside move from an ID/NR setup; the held trade under 892 indicates more downside. There’s trendline support at 884, a move under there could target 870.
SVH:Hasn’t followed gold down, can it hold together?There’s support at the old high of 1177.
CCH:Reached the objective at the last swing high of 2806, might be a good time to book profits if you bought the breakout.
SBH:Relatively narrow range today. Trendline support at 1268.Tomorrow will be a momentum buy day.
CLH:Momentum is bullish; 3911 was the last swing low.

Stocks are rallying because of optimism about the “bad bank” plan (in which the taxpayers get stuck with loans that a bunch of irresponsible bankers made to people who shouldn’t have gotten loans in the first place. AND the government will be paying above market rates for them, so the banks don’t have to take a hit.AND they get to keep the management in place-the same management that got them into this mess. So much for moral hazard).