(Romans 12:11, NIV)
I encourage you to embark on this wonderful journey with me.
"Should we fail...should we fall...we fall at His feet."
1/4/2010 5:01 PM ET (RTTNews) - Stocks rose by notable margins to open the new year on Monday amid some general economic optimism and better-than-expected news from the manufacturing sector. The major averages rallied to their best closing levels in fifteen months. The Dow posted a triple digit gain, rising by more than 155 points.
Early optimism was solidified by a report from the Institute for Supply Management showing that its index of activity in the manufacturing sector jumped to 55.9 in December from 53.6 in November, with a reading above 50 indicating growth in the sector. Economists had been expecting the index to increase to a reading of 54.3.
With the bigger than expected increase, the manufacturing index rose to its highest level since April of 2006, when it came in at 56.0.
Pre-market trading presented a pullback entry at the 1116/1117 zone. 7 points higher the market pulled back to our 1122/1123 zone (1123.25) to be exact and tagged our EMA creating a picture perfect entry for the continued move higher. Price peaked at 1129.75 just short of out next decision area at1131/1132 and consolidated in a very narrow range for the final 3 hours of trading. So far on the Globex session things are very quiet...
Certainly a much brighter start than we saw on the first trading day of 2009, and a great day for the shareholders of Santa Fe Gold Corp.
We're going to hold off on our Soybean commentary for a few days but here's a peak at our chart and how price played with our zones.
Pray Hard & Trade Safe