US stock futures point modestly higher Friday, looking to engineer a close above the psychological Dow 13,000 level. Earlier in the week the index pushed above that level but couldn’t hold, which is not unusual at the first pass. Bears could be heard calling a double top, but a strong close today would shut the door on that interpretation of the action.
We have been unable to get any follow-through to the downside, with bullish composure remaining intact. Crude oil continued to run higher as tensions rise in Iran. The government is pushing back against further international monitoring of nuclear sites.
Disclosures: Short AAPL