Futures Swing Trading Report - Friday, September 11, 2009

By John Crane
10 September 2009 @ 05:39 pm EDT

December Dow Jones  – U.S. stocks gained for a fifth day, as forecasts of increasing demand for oil boosted energy shares and jobless claims slid to the lowest level since July. Even as the market continues to climb, traders are being cautious after five straight days of gains. The S&P 500 has risen 52.8% in the last six-months, after hitting the low in March, without experiencing any significant correction. Thursday's high of 9572 came very close to taking out the prior high of 9576 that was posted on August 28 th . The prevailing trend continues to point higher and the market structure seems to say the trend will continue.

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