Futures High on White Lines as Headlines Abound

S&P 500 futures are spiking tonight as I write this, ramping roughly fourteen handles higher starting at 7pm EST.

We are currently seeing some modest giveback off the highs, as you can see on the futures chart below.

But the market is, essentially:

1. Laughing off the potential of any “bad” market scenario out of Washington D.C., and;
2. It is also shrugging off the Fitch credit warning after the bell.

We still have quite a ways to go before the open tomorrow. Intel is down about 1.7% after-hours on earnings.

As far as long ideas, the 30-minute chart of SCTY is still looking as ripe as any to continue upside momentum. FB TSLA are distinguishing themselves from even other momemtum leaders like AMZN IBB LNKD NFLX, which have slowed down.

I will be back later with more ideas.

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