Good morning. Futures are moderately higher, sp +6pts, we're set to open at 2101, a mere 0.8% from breaking a new historic high. Metals remain weak, Gold -$2. Oil is holding early sig' gains of 1.4%.. ahead of the latest EIA report.
We have a fair few bits of data today, along with two fed officials this morning. This afternoon the market will have eyes on the latest Fed beige book.. which will likely turn attention to Q1 GDP.... due Apr'29th.
Market looks set for new historic highs in the near term, and it would seem a reasonable target for June is the monthly upper bollinger.... somewhere in the 2170/80s.. or so.
notable early strength: INTC +3% in the $32.50s
The break above the declining trend/resistance of $32 is pretty significant. A climb towards $35... if not the low 40s by June looks underway.
*I am long INTC from Monday.... as an earnings play, I will look to drop early this morning, but am most certainly broadly bullish the stock across the longer term.
Have a good Wednesday!
9.34am.. EXITED INTC-long... from $32.35.... not as good as I was looking for.. but it'll do.
*opening black-fail candle on INTC.... I may have just exited at the top.