Pre-Market Brief

Good morning. Today is a big day. The last big econ/news event of the year, with the FOMC announcement at 12.30pm, and a Bernanke press conference around 2.15pm. How the market reacts today, will likely shape how we close the year..and move into 2013.


sp'60min

sp'daily5

Summary

Futures are a touch higher, sp +2pts, we're set to open around 1429/30.
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As is usually the case, the first market reaction is not often the one that will be the eventual outcome.

We could easily ramp dow 100pts on the news, only to close -150pts. Similarly, we could initially drop 100pts, but close 200pts higher.

There will very likely be some wild swings this afternoon, and those initial moves..are not to be relied upon.

Good wishes for what will be an important day.