Equity index futures are pointing to an up open of over 1%. Buyers stepped in to this market in a big way late Friday afternoon and the momentum has carried over into the new week. The action in the first hour of the day this morning will be very important. Traders will attempt to sell the up open for a gap fill however, if this gap holds after the first hour, expect a trend up day. Today's sector spotlight is in the financials. We have been covering the triangle patterns in WFC and JPM and thus far, the floors in these two stocks have held. They may be ready for higher prices.
See how T3 is trading the open at www.t3live.com