Pre-Market Brief

Good morning! Today should be one for the bears. Now, remember, last Thursday the market opened marginally up..but still closed down around dow -250pts. So, we have a long day ahead. Bears should not get rattled by minor up moves. The main trend remains down.

Key econ-data just out..
Durable Goods Orders: 1.1% vs 0.4 expected... so.. that will was certainly above the outlook.

*pending home sales at 10am.
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sp'60min

vix'60min

We could easily see a spike up to VIX'22 later today or tomorrow.


Summary

Bears need to see a break of  yesterdays low of 1310.  That should open up 1300, and if that fails to hold, then the low 1290s. The 200 day MA at 1297 will certainly be one key level to keep in mind for those looking to exit today/tomorrow.

With Durable Goods Orders somewhat better than expected, futures are flat/marginally higher.

Good wishes for Wednesday trading!