Bulls losing strength: Market Pulse
S&P Futures have once again rejected off of yesterday’s highs in overnight trading. Price is pushing back down against the 20-day moving average here and downside prospects remain well in tact below 2570. I will be watching to see if bulls continue to hold their ground here…
Gold Futures are continuing to trade below that 100 day moving average indicating that bears are not letting up here. Price is still more or less range bound, so I need to see conviction in one direction of another before I can determine what is likely coming next.
Crude Oil Futues remain consolidative at 52 to week highs, but the probability of a downside move is increasing considerably. I am still looking for a retraction of this recent advance to consider possible long interest donw in the 54 area.
TGTX is consolidating within a range here on the daily but is looking like bulls are attempting to step in to drive price higher. Price is currently up 7.8% in pre-market trading at 8.89. I think that if bulls can gain traction over 9.00 that there is a clear path back up into the 10 area.