Intraday Market Thoughts

Archived IMT (2009.10.13)

by Ashraf Laidi
Oct 13, 2009 23:08

TECH/FINANCIALS DIVERGENCE: Rallying US Tech stocks after a blow out earnings from Intel are boosting technology shares, while banking stocks continue to struggle. Past trading patterns showed that rallying techs relative to financials have occurred during pullbacks in the main equity indices. Will Goldman Sachs do the usual and beat earnings expectations on Thursday? Or has the bar been set too high? But an potential earlier obstacle to appetite will be TOMORROWs RETAIL SALES, expected -2.1% from +2.7% and ex-autos seen +0.2% from +0.2%


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