Friday, January 30, 2009

PreMarket View 01/30/09

The overnight market has stayed between yesterday's low and the 850 area. Stocks in Europe are doing well; while Japan is digesting bad economic news. The US well be getting a large dose of bad economic news between 0830 and 1000 ET, but the market should have most of this news built in already. A potential negative is that the news could be worse than expected. A potential positive is that the news is better than expected. A positive sign is for the market to trade above 850 on high volume following the double bottom and "W" formation made in the last few weeks.
24 Hr Globex Pivot: 851.75
Day Session Pivot: 847
Largest 10-Day Avg Distance From 0930 ET Open: 22.3
Largest Distance Standard Deviation: 8.47
Smallest 10-Day Avg Distance From 0930 ET Open: 6.52
Smallest Distance Standard Deviation: 4.93

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