Market Alert - Pre-Market

Futures vs FV: SP +4.85; DJ +44.39; NASDAQ +2.99

Definitely a mix of news to start the week that on balance the market is again taking as positive. Of course that raises the question: will a more positive open manage to hold?

Oil: Russia, Saudi Arabia and thus OPEC agree to a 9 month production cut extension. Oil jumping nicely.


Empire PMI: -1.0 vs 7.5% exp vs 5.2% prior.
New orders: -4.4


Ransomware attack courtesy of the NSA has been somewhat stymied as one code reader found a hardwired kill switch, activated the kill switch's URL and that shut it down from replicating over and over. That really helped in the western hemisphere, but the east is still getting hit as the issue hit late for them Friday. Thing is, the NSA knew about this as it wrote the program and didn't do anything. Perhaps the NSA wanted it to happened? Didn't care?


M&A: AAPL buying Lattice Data. TMO buying Patheon


Analyst activity:

Downgrades: SSYS, TSLA. Analysts scared of stocks rallying. SSYS down 1.25, TSLA about 8 clicks. Both will still open above the 10 day EMA so will see if they bounce above that level.


OTHER MARKETS
Bonds: 2.336% vs 2.34%

EUR/USD: 1.0982 VS 1.09328

USD/JPY: 113.38 vs 113.349

Oil: 49.51, +1.67

Gold: 1235.50, +7.80


Futures are holding near the morning highs. It would be nice to see the good patterns in the indices and many stocks vindicated upside with a breakout. We will see. It is all about the early bids holding and the moves getting the volume they need.

It is again worth nothing there is a bit more 'big name' bearishness in the market even as the good patterns are set, and the bias is still upside despite the mixed news this morning.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm

PLEASE DO NOT REPLY TO THIS EMAIL. USE THE CONTACT US PAGE ON OUR WEBSITE.

Customer Support: http://investmenthouse.com/contact_us.php