PULLING IN TO THE TRENDLINES!

That is what is happening here with the mlp index now about to touch its 34 day moving average uptrend line. The dow industrials are doing the same thing so we are in a critical area and we will watch closely. We have bounced twice before from this and if the bull trend is going to continue we should see a reversal soon.


240 on the mlp index and 9000 on the dow still appear to be doable in this rally phase.

Stock futures are a little higher this morning. The energy complex is down a little bit but nothing tragic. CPI due out at 8:30am will be a market mover. No corporate headlines so far this morning. Oneok LP (OKS) should be wrapping up its secondary which was announced yesterday. Nothing on the upgrade downgrade list.