S&P 500 futures ticked downward 0.22% this morning, an indicator that some traders decided overnight to lock in their gains from yesterday’s close, when the index reached a new all-time high of 6,901. The peak was entirely predictable, given that U.S. Federal Reserve chairman Jerome Powell delivered a new dose of liquidity, as expected, via Wednesday’s 0.25% interest rate cut. Nasdaq 100 futures were down 0.51% this morning, premarket, as traders picked winners and losers in the tech sector. Oracle lost another 1% overnight. It’s down more than 9% over the last five sessions after reporting revenue below expectations and capital expenditure above expectations. Alphabet (Google) by contrast was up 0.26% in overnight trading. The bigger picture is the fact that the S&P 500 has now risen 17.3

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