• 	OPTIONSMART MORNING UPDATE: Posted healthy gains on earnings hopes
  1. OUTLOOK: Encouraging corporate headlines, continued weakness in the U.S. dollar, and a better-than-feared weekly jobless claims report pushed the market higher. However, technical resistance capped the move. The most recent candlestick on the chart looks weak. The market needs more catalysts to move higher. It looks like high earnings expectations are already priced in. Cost-cutting is expected to continue to drive results this quarter, but topline growth could be improving at least in some sectors, if Alcoa is an indication. On the Nasdaq, advancers topped decliners five to four on volume of 2.42 billion shares. U.S. futures point to a lower open.
  2. TRADING OPPORTUNITY: none
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  October 9th, 2009 at 8:17 am

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