Tuesday, 16 July 2013

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1680. Primary trend remains strongly to the upside, and there is no reason why the market won't break into the 1690s later in the day. Precious metals and Oil are both moderately higher.

sp'60min'3 - broader count


So, a few points lower at the open, but why would it increase? Exactly

Volume remains exceptionally low, and that is prime conditions for the algo-bots.

*I remain content on the sidelines, and I don't intend to get involved today, not least since trading ahead of the Bernanke (Wed/Thursday) is pretty risky..for both sides.

As things are, I don't think we'll even retrace below the rapidly rising hourly 50MA..currently 1655.