S&P Sits Near Par After Surge

The S&P futures made the confirmation we were looking for on Thursday, propelling from our 2nd tier uptrend line well beyond the psychological 950 level. The futures are leveling off today as investors take some profits amid disappointing earnings from the likes of MSFT, AXP, and AMZN. The markets have also received some disconcerting results from WFC and MS this, week along with fast food giant MCD.