Equities have rebounded from Friday's close with the bulls taking the early lead, states Bill Baruch, president of BlueLineFutures.com.
Hang tight though, as the S&P 500 (SPX) is coming into resistance here, which aligns with previous peaks seen Feb 2nd and 9th (4566-4575). The Nasdaq (IXIC) is settling near 15,100 (200dma), catapulted by Twitter (TWTR) being up nearly 30% based on the news of Elon Musk's new stake.
Images coming out of Ukraine & Russia gave a tailwind to crude oil (CL=F) this morning, as a close above $101.80 could keep the momentum to the upside. A higher US dollar is weighing on gold (GC=F), but support is still holding ($1920-26). Silver (SI=F) has some work to do, but keep an eye on Newmont Corp. (NEM), as it hit a 52-week high today.
Learn more about Bill Baruch at Blue Line Futures.
