The Real Work Begins

Good morning. Following strength in overseas markets, premarket futures are positive as well.

While there are no significant headlines to mention, there is some talk about yet another stimulus bill while the Fed considers pumping even more money into the economy by expanding their lending and securities-purchase programs.

Premarket gainers: OFG, CNO, CYTX, DXPE, LHCG, ACAS, CT, JCG, STV, EXAC, GERN, ASML, GMXR, RMBS, C, ADVS, BAC, WFC, AXA, BUCY, CS, DB, LNC, SNDA, AAUK, AMSC, PW, BKR, PDS, FSYS, NOK, GOLD, HMY, AU, RTP, MS, & GE.

Premarket losers: CPE, HBC, SAM, TTWO, BPOP, HLX, WTFC, ADCT, AMKR, CLR, MLHR, LAMR, SGMS, TTEC, SONS, RVBD, DY, LDK, VMED, SYK, SPLS, TBSI, LQDT, SQNM, EGLE, MCK, DRYS, & SWIM.

At 10:30 we have the weekly EIA Petroleum Status report and at 2:PM the Monthly Treasury Statement. Both foreclosures and mortgage applications are on the rise.

Yesterday was fun to trade, but now the real work begins as we look for any follow through. We must expect that the bears will try to take'em down again sometime before the week is finished. On the upside, we have that gap to fill above S&P 740 and then another resistance at S&P 760. On the downside, we simply don't want to see any violation of S&P 700 especially on a closing basis.

Go make it a great day!