Monday, August 2, 2010

Big Gap Up

There is no significant news out there and we are up big in the pre-market.  Those are usually the gap ups that I do not like to fade, especially coming off a pullback where we made higher lows.  

But one thing I am noticing is the lack of movement in the euro, despite positive PMI data in Europe and the higher markets. Maybe the euro is close to topping out here.

The ISM index and construction spending comes out at 10:00 AM.  Also, today is the first day of the month, which is generally bullish. 

No comments: