Scalper1 News
Major averages finished up yesterday on higher volume compared to Friday, but was still below average. The S&P 500 and NASDAQ Composite both closed above their respective 50-day moving averages but whether this results in an uptrend remains to be seen as the majors have been stuck in a sideways trend since late 2014. Thus risk remains high while trends are virtually non-existent. Futures are down sharply this morning after China’s markets suffered another plunge, with the Shanghai Index down -6.1% and the Shenzhen Index down -6.6%, despite a massive cash infusion from the Chinese markets. Fiber optic telecom company Infineon (INFN) had a pocket pivot. Earnings are skyrocketing, group rank 5. INFN gapped up on its prior earnings report. Scalper1 News
Scalper1 News