The Morning Look
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The Morning Look

Stock Market Overview:  Futures are slightly higher ahead of Monday’s open. Stocks rallied sharply over the past three weeks and are now trading near important areas of resistance (the 50 DMA line). Gary’s Thoughts: Caerful! Google the words “eye of the hurricane!” Economic Data:  Chicago PMI 9:45 AM ET Pending Home Sales Index 10:00 AM ET Dallas Fed Mfg…

The Closing Look
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The Closing Look

Stocks rallied on Thursday as the market added to Wednesday’s very strong positive reversal. Overnight, the Shanghai composite plunged -6.4% and hit a three-week low. Rumors spread that China’s central bank injected another $52 billion into the money market to help stabilize markets. The ChiNext index which tracks small-cap Chinese stocks tanked -7.7% which clearly…

The Closing Look
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The Closing Look

Stocks opened lower but closed higher on Wednesday after the latest round of lackluster earnings and economic data were released. Oil prices also positively reversed after the latest EIA report was released. Economic data was less than thrilling. First, February’s Flash PMI Services Index Fell to 49.8, miss estimates for 53. Then New Home sales plunged -9.2%…