Good morning. Futures are moderately higher, sp +3pts, we're set to open @ 1683 - a mere 4pts from the recent high. Precious metals and Oil are both lower by around 1%, with the USD +0.25% This week will again be largely about what the Bernanke has to say.
*Retail sales just came in a bit weak, +0.4%,. vs market expectations of 0.8%
There are business inventories @ 10am.
There might be a pull back later this week, but I don't expect it to be much, nor last for very long.
*I am on the sidelines, but will look to pick up an Oil-long position early this morning. There seems absolutely no point in attempting any short side positions for some weeks to come.
Good wishes for the trading week ahead!
Video update from Oscar...
No surprise that he is bullish...