MomentumOptionsTrading.com Midday Update for 6/5/2014
Dow Triggers 16,800
Futures were slightly lower throughout the night and ahead of the overseas markets opening as the world awaited the ECB’s decision to cut rates. I mentioned yesterday Draghi would have to wow the zombies from central banks from around the world to keep the market(s) happy.
Ahead of Wall Street’s open, futures had improved after he did just enough to please everyone. His words had to be dissected so the bears tried to make some noise at the open but when the bulls learned “there was more to come”, they hit rally mode.
Heading into the second half of trading, the Dow is surging 96 points to 16,833 while the S&P 500 is zooming 12 points to 1,940. The Nasdaq is jumping 23 points to 4,295 and the Russell 2000 is rocketing 51 points to 1,151.
Subscribers, check the Members Area for the updates. I could have a New Trade later this afternoon so stay locked and loaded into the close.