OPTIONSMART MORNING UPDATE: Shows bearish signs

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OPTIONSMART MORNING UPDATE: Shows bearish signs

OPTIONSMART MORNING UPDATE: Shows bearish signs

1. OUTLOOK: The worse-than-expected consumer confidence data stirred sellers. However, stocks still were generally able to garner support and limit losses. Microsoft and Yahoo have reached a long-awaited search deal, according to the WSJ. The two companies are expected to announce the details today, the report said. A report on durable goods orders, which is due out before the opening bell, may provide some market direction. The technical chart shows signs of a bearish pattern. US futures point to a lower open. U.S.futures point to a lower open.

QQQQ chart

2. TRADING OPPORTUNITY: n/a

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July 29th, 2009 at 7:26 am

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