Its the midnight hour in London City, the futures wheel is indeed spinning, so far its showing a moderate gain of sp'+5/6pts or so. Nothing too significant, but neither is it a decline. The bears could understandably be a little concerned that there might yet be some crazy rumour causing a stupid large gap higher.
Regardless, the following remains my outlook....
..and relating to the 5 scenario chart...
My best guess remains scenario B, where the Bernanke will likely be under pressure from even the normally anti-printing groups to initiate a very large QE3 ($1 trillion MBS purchases?), sometime in late summer.
Zerohedge reporting that FB was down again 2-3% in European trading. A break under $30 this Tuesday probably opens up 26/24 by the end of this week. There is also the issue that options trading will begin at the Tuesday open, I'm sure many traders will be prepared to chase FB lower via Puts right from the open.
Hope you enjoyed the 3 day break, we have a busy 4 day week ahead.