Spread betting charts are pointing to a higher open for the Dow Jones Industrial Average. Spreadex, one of the UKs largest spread betting companies has this morning issued a falshnote calling the Dow Jones Industrial Average higher. The call comes after taking a look at the Dow Jones charts on their spread betting platform which takes futures figures and combines it with current indices performance to arrive at an indicative figure. “Spreadex expects the Dow to open up 38 at 12491 At and the S&P 500 up 6.4 at 1336.7 Today’s release of initial jobless claims and Philadelphia Fed Manufacturing Index figures could point to recovery signs after a worse than expected jobless figure last week,” says a note from Matthew Nelson at the spread betting company. “With Morgan Stanley, General Electric Co and Mcdonalds among a long list of US companies reporting today corporate earnings data could again provide support and add to the latest wave of buying,” says Nelson. Meanwhile spread betting company Delta Index have called a Buy on Apple Inc and AMD this morning. The morning call from Delta Index gives spread betting traders food for thought from a purely technical perspective. AMD has seen a bullish MACD crossover which signals a Buy at 863 say Delta Index. A stop has been set at 807 and an initial take profit target at 971 has been suggested. Apple Inc announces results today. A bullish MACD crossover formed ahead of these results signalling a Buy at 34319, a Stop at 33272 and an initial target at 36395. Spread betting companies had all called the FTSE 100 higher as momentum from yesterday’s stormer of a session filtered through. “The FTSE 100 is called to open higher this morning on the back of positive earnings results out of the US which drove the global markets higher overnight,” says a note from SVS Securities.

 

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