Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1650. Precious metals are again higher, Gold +$8. Oil is significantly higher, with WTIC in the $105s. There is 'moderate' opportunity for the bears today, with the FOMC minutes due this afternoon.


sp'60min

VIX'60min

Summary

We have a $3bn QE in the morning, so bears face that little problem again.

Yet, the FOMC minutes later at 2pm, might be enough to give the market the excuse to sell lower into Thursday.

There will be strong support around the rising 50 day :@ 1630. I do not expect anything lower than that this week.
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*I remain on the sidelines, but am seeking to pick up an index/Oil long position.


Video update from Mr Carboni...



Have a good Wednesday!