Markets Cruising, Traders Looking Ahead to Data

Market Check InToday marks another historical day for both indices, DOW and S&P. It seems lately that historical days are the norm. I’ll take it. The markets are SOARING as traders are excited for the data to come at the end of the week.

As of 10:54 A.M., EST, the DOW is at 18,182.15 up +65.31 points, just barely off its historical high of 18,188.06. The S&P also is just off historical highs of 2,113.84 resting now at 2,112.39 up +2.73 points. The NASDAQ is the laggard as of now down -1.54 points to 4,959.43.

Overnight, the Nikkei gained +136.56 to rest at 18,603.48. The Hang Seng dropped -86.69 points to finish at 24,750.07.

In Europe, the FTSE 100 is up +33.05 points to 6,945.21. The CAC 40 continues its climb up +19.24 points to 4,880.96. Also, the is feeling a nice day up +68.89 points to 11,199.81.

Oil continues to cheapen by the day but is now actually taking a break in the green up .37 cents to 49.82/barrel. NYMEX Nat. Gas is up .02 cents to 2.90/MMBtu.

Precious metals are pretty neutral today with Gold resting down .2.70/oz to 1,200.90/oz. Silver sits up .06/oz to 16.40/oz. Platinum is up .90 cents to 1,164.80/oz. Lastly, Palladium is up 1.00/oz to 787.90/oz.

One penny stock grabbing our attention is Rich Pharmaceuticals Inc., (OTC:RCHA). Rich Pharmaceuticals Inc. RCHA sold off on massive volume of about 189M shares traded in yesterday’s session down over -32% to finish the day at .0019. This comes after a previous sell off whereby RCHA ate roughly -66% loss in the prior trading session. Investors are watching for a spring back in today’s session after currently resting at .0018. RCHA has a 52-week high of .455 on April 7th, 2014 and a 52-week low of .0008 on February 3rd, 2015. The stock has 662M shares outstanding and a float of 544M. Its 22-day average traded volume is 47.5M per session.

RCHA is indicating a Relative Strength Index (RSI) on the stock of 46.43 yesterday at the close. Technically speaking, we are approaching the oversold territory. Again, watch for this stock to have a nice knee-jerk reaction shortly perhaps followed by a little run.

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