Morning Market Comment 早盘市场评论

China is planning for more economic stimulus, strong oil prices and strength in FAANG stocks are supportive for today's stock market. While not so satisfying WFC and JPM earnings are dragging down the financials.

Major market indexes lead by Nasdaq rallied into morning highs 45 minutes after market open. The morning highs for major indexes are Dow 24039, S&P 500 2606, Nasdaq 7005 and Russell 2000 1438. They then retreated rapidly and are now at 23923, 2596, 6979 and 1433 respectively. Today's index highs are now resistances and they happen to be near previous perceived resistances at 24000, 2600, 7000 and 1454 respectively. This morning's weakest index is Russell 2000 followed by the Dow and S&P 500. The Nasdaq is the strongest. Strong sectors are FDN, SOCL, IGV, IBB. Weak sectors are IYM, XLF, XRT.

This morning's market rally is quite broad based, however, the index resistances are respected. If the indexes are able to exceed today's highs, market will likely rally further, otherwise investors would be disappointed and a sell off may happen.


中国正在计划实施更多的经济刺激计划，强劲的油价以及强势的FAANG股票支撑着今天的股市。但不太令人满意的WFC和JPM财报拖累了金融股。

在市场开盘后45分钟，由纳斯达克指数带动主要市场指数上涨至早盘高位。主要股票指数的早盘高点是道指24039，标准普尔500 2606，纳斯达克7005和罗素2000 1438.。之后迅速回落，目前分别为23923,2596,6979和1433。今天的指数高位是阻力水平，它们恰好接近先前预期的阻力位24000,2600,7000和1454。今天早上最弱的指数是罗素2000指数，其次是道琼斯指数和标准普尔500指数。纳斯达克指数表现最为强劲。强势板块是FDN，SOCL，IGV，IBB。弱势板块是IYM，XLF，XRT。

今早市场上升相当广泛，但各大指数的阻力受到尊重。如果各大指数能够超过它们今天的高点，市场可能会进一步上升，否则投资者会感到失望并且可能会出现抛售。