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Stock quotes in this article: FCX  

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Morning Prep

By Ken Wolff
06/18/09 8:41 a.m.

The PowerShares QQQ Trust(QQQQ Quote) is moving up a bit after the jobless claims numbers came in about in line. After some initial weakness yesterday, buyers came in just under QQQQ $35.50, and we popped nicely to $36.20. We touched the uptrend line on the daily chart, and buyers came in.

If the market is going to begin another leg up, we should get about 10 to 20 cents in selling at the open, then buyers will come in earlier than yesterday. I think we have a 70% chance of that occurring. The percentages are in favor of the bulls today. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
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Oil *
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UP
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UP
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