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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Futures are up nicely ahead of Friday’s open and the GDP report. Stocks are higher after Wednesday’s very strong positive reversal. The next level of resistance to watch is Monday’s high and the 50 DMA line.

Gary’s Thoughts: Gap to the upside as Dow/S&P back above 50 day as of yesterday’s close. Maximum overbought at hand and massive resistance getting close.

Economic Data: 

  • GDP 8:30 AM ET
  • Personal Income and Outlays 8:30 AM ET
  • Consumer Sentiment 10:00 AM ET
  • Jerome Powell Speaks 10:15 AM ET
  • John Williams Speaks 10:15 AM ET
  • Baker-Hughes Rig Count 1:00 PM ET
  • Lael Brainard Speaks 1:30 PM ET

 

Highlights Of The Day:

  • Biggest Wave Yet of U.S. Oil Defaults Looms
    Gary’s Thoughts:     More to come!