Market Monday 12/10

[ron]

Mrkt in green territory mostly influenced by report of pending home sales for the month of October rising 0.6% compared to the consensus estimate that called for a drop of 1.0%. The prior reading was revised to +1.4% from +0.2%.

[ron]

some news today includes - Swiss bank UBS $51.47 +$1.01 announced it will write-down $10 billion in losses on subprime lending, and expects to post a net loss in the fourth quarter.
- McDonald's reported November same-store sales rose 8.2%, topping the consensus estimate that called for sales to rise 4.9%.
- Morgan Stanley revised downward U.S. growth outlook and says a "mild" economic recession is likely, according to Reuters.

[ron]

Mrkt breadth remains bullish with advancers in control of this session...Indices however, stalled again at resistance.
Dow's rez levels : 13744/13765 , Naz 2718/2724 , S&P 1519/1520....Dow currently up 79.71 Points, Naz +8.35, S&P +8.65, NDX +1.63 rtq (real time quotes)

[ron]

it's important to notice in my view, that there has been negative news during today's session, but quickly discounted from the mrkts while the positive news, like the bounce in pending home sales has taken precedence prompting upside while sustaining it, worth noting.....Dow up 89 Points, Naz +10.69, S&P +9.04, NDX +3.76 rtq.

[lamborghini]

Crude closed the session off $0.32 to $87.96pbl
Natural gas closed the session off 11.5 cents to $7.040mbtu
Heating oil ended down 2.58 cents to $2.4789/gal
RBOB finished lower by 1.99 cents to $2.2491/gal