Thursday, 17 January 2013

Pre-Market Brief

Good morning. Futures are higher, the sp +8pts, we're set to open above key resistance @ 1480. There is now nothing but empty air until sp'1510/20. The VIX will doubtless open in the low 12s. Metals are significantly weaker, with the $ a touch lower.




So....a lousy open is due for the bears, and the big 1474 level will be busted on a gap higher.

This might be a brief spike higher..but really, there is only a small probability of that.

All those who were still touting the 'its a wave'2'.....will need to throw those charts in the trash this morning.