Pre-Market Brief

Good morning. Futures are moderately higher, sp +3pts, we're set to open at 1967. Metals are similarly higher, Gold +$2. Equities look set to climb slowly higher into the weekend, with a close somewhere in the sp'1970s.


sp'60min

Summary

First, keep in mind that we closed last Friday @ 1985...

sp'weekly

So... for the week so far, we're around 21pts lower, -1% decline.

Certainly, a Friday gain of 10pts would help reduce the weekly loss to just 0.5%. Although yes, the R2K will still likely see a net weekly decline of -2%.
-

All things considered, price action still doesn't support the equity bears. Besides, I'm still seeking a sub'4 wave..and that might not even start until Sept/Oct.
-

*watching the airlines today, all the usual suspects should probably continue climbing, AA, DAL, and notably... UAL.


8.59am... indexes fractionally lower, sp -1pt.

Regardless of any minor chop this morning...the inclination should be to the upside... with 1990/2000s viable next week.


9.42am. Mr Market teasing the bears at the open with sp'1960.