Monday 10 June 2013

Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open around 1645. First target for the bulls this morning is the 1650/52 area, then its open air to the low 1670s later in the week. Precious metals are a little higher, whilst Oil is somewhat weak.


sp'60min



vix'60min


Summary

So, we're set to open a touch higher. Those bears seeking a significant gap lower are obviously going to be annoyed, before the week has even started.

*Nikkei closed up almost 5%, which is the biggest move in over two years (according to ZH). I'm kinda surprised US futures aren't much higher.
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Today is arguably day'3 of a new up cycle. As I will keep stating, the big issue now is whether we put in our first lower high, or break >1687.

Considering the primary trend is still up, you'd have to default to the bullish side.

As ever though, one day..at a time.

yours...
            3000 posts and counting.

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*I am heavy long, seeking an initial exit this morning, and will look to go long again late in the day/early Tuesday

UPDATE 9.33am... EXITED heavy index longs.

We could easily just keep going up into 11am, but I want out.