Thursday 26 July 2012

Pre-Market Brief - trouble for the bears

The market is ramping hard right now with still 2 hours to go until the open. Dow is +125, Sp+15pts, we're set to open around 1355.

The dollar is significantly lower by 0.5%, and it seems comments by the ECB Draghi are causing this latest nonsense. Urghhhhhhh


sp'60min



sp'daily5


Summary

Well, I'm short already, so its time to put on the flak jacket again. No point exiting in the 1350/60s - I'm assuming the top is in at 1380.

Bears do have a fair bit of key econ-data today and tomorrow, so if that comes in rough, then the bulls will struggle to maintain these provisional gains.

More across the day.