Pre-Market Brief

Good morning. Futures are back to flat after being lower by around 0.5% earlier overnight. We are due a wide spread of econ-data this morning, so Mr Market will have a lot of excuses to pick a direction.


sp'60min

sp'daily5

Summary

The daily index charts appear to have a bear flag, we'll need a clear break <1400 to see that confirmed.

ADP private sector October jobs: 158k. But that number is truly unreliable, even more than a VIX <20.
--

Bears should be seeking a daily close <1397, which would be sp 16pts lower, that seems too much to expect for today. Perhaps tomorrow. A VIX close in the 19s would be...useful.

back at 10am.