Wednesday, 22 August 2012

Pre-Market Brief

Good morning. Futures are marginally lower, sp-3pts , we're set to open around 1410. Certainly, we're not going to open with anything significant.



Bears should most definitely seek a close below the daily 10MA of 1408. A close in the 1390s today would be a real bonus.

We have the FOMC minutes later this afternoon, so there is the possibility Mr Market will get a stern reminder that 'no QE until after the election'. If so, then we do have a good chance of breaking back under 1400.

So, lets see if yesterdays closing hour weakness will have some follow through today.

Good wishes for Wednesday trading!