Monday, 18 June 2012

Pre-Market Brief

Good morning. Futures are showing dow-25, sp-2/3. That is certainly a fairly significant turn around from last nights sp +9.

I would assume its just a little tease to the bears though, and that we can still easily close moderately green - with further upside Tue/Wed to the top of my original target zone (also key fib level area) of 1360/65.



A long and busy week ahead. It will doubtless be filled with conflicting news and rumour about Greece/EU. So expect more crazy intra-day swings. The FOMC decision on Wednesday (12.30pm EST) will be central, and could shape the next few weeks/months of trading. I only expect QE-twist extension at the most.

There really isn't much econ-data this week, only housing.

My current plan is to re-short this market around 1355/65 this Wednesday afternoon.

Good wishes for Monday trading!