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Morning Call Express: Bulls Penetrate

Date: Oct 21 2014, 8:21 am

Description: Mixed markets around the World. Europe is trying to build in its move off last weeks lows. The DAX held 8600 yesterday, showing some small commitment, and is up .85%. China's GDP came in at 7.3% above the 7.2%consensus, but lowest since 2009. The Nikkei is off 2% giving back half (not good) of the prior day 3.99% move. Shanghai is off .75%.   Our markets continues to snap back with the $spx holding Fridays gap up and taking out Fridays high showing appetite even as we are now over 80 handles off last Wednesdays lows of 1820. See if we hold above 200day at $1905ish. Next big resistance is 1920-1925. Last week the oscillator was -66 giving lots of opportunities for an oversold bounce. Now its almost +50 so make sure to take some care adding or with some new longs. Markets felt perky yesterday and did a good job isolating IBM's weakness and poor report.   Want More Awesome Actionable Trade Ideas? Subscribe Now to T3 Live's Off the Charts Premium

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