Pre-Market Brief

Good morning. Futures are slightly higher, sp +2pts, we're set to open around 1459/60. For those bears seeking a retracement lower, it will be important to break <1450 later today. The dollar is 0.25% higher, but remains below the important 81s.


sp'60min4 - retracement levels

sp'daily5

Summary

Well, nothing remotely interesting overnight, and we're going to open within 0.5% of the recent highs.

Considering the VIX is so low, and  hasn't even bounced back to the lower end of the 16-18 gap level, I'm still seeking a move to at least the low 1440s. Even 1425 is still easily within range by the end of this week.

I am short from 1457, seeking an exit @ 1445/40 later today/early Thursday. I will be somewhat disappointed if the market does a moon trip >1467 within the next day or two.
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