Pre Market update

U.S. futures Indices are in correction mode this morning. The /ES (S&P 500) is trading just slightly below the huge benchmark of 2000.

/YM ($DJI) also trying to go for the 17,000 all time high, trading now at 16920 in premarket.

/NQ (Nasdaq 100) hit 3800 in early morning hours now trading at 3,795

We have a relative quiet week ahead of us as we are whining down from a turbulent earnings season. There are just a few earnings reports expected for this week. No major economic release + no surprises from the earnings side might mean a continuation of the current trend.

On watch - Chart of the day

VRTX (Vertex Pharmaceuticals) possible breakout to occur over $74.00 area. After bottoming out for now at $59.79 the stock had been consolidating and on 5/27 broke resistance and found support at a higher level $71.00 area. This newly found higher support level and the consolidation on the daily chart might suggest a breakout in the making over $74.00 with a quite wide void to the upside into $76.00 area and $86.00 area for longer term. The price is just starting to trade slightly above 200 SMA and this price action might sustain a pop to the upside, 

Anka Metcalf

Active Investor Signal Program

For even more trading ideas follow us on:

Like us on Facebook: www.Facebook.com/TradeOutLoud

Follow us on Twitter: www.Twitter.com/AnkaMetcalf