Equity index futures are set to open lower this morning after a big four day rally that has closed the S&P above the much talked about 200 day moving average. We are slightly extended however the path of least resistance remains to the upside. The banks will be in play and will be a focus today, as much of the capital raising is now out of the way. There were some upgrades in tech stocks today and the Nasdaq is showing relative strength premarket. Last but not least, oil and the commodity complex will remain on our radar. The OIH and individual oil stocks have bullish patterns and today's oil number should be a catalyst for a move.
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