Pre-Market Brief

Good morning. Future are moderately lower, sp -4pts, we're set to open at 1690. Precious metals are a touch higher, Gold +$3, whilst Oil is -0.4%. Dollar is flat. Bulls will again be seeking to break back into the 1700s, and that still seems a target too far.


sp'60min

Summary

So..once again we have a market set to open a little lower, but its nothing significant, and the bulls will be set for another 'latter day recovery' as the day develops.

Hourly charts are suggestive of downside for some hours though, so bulls are going to find today tough.
-

Regardless of how we close today, bears need to keep in mind the week will end with two major QEs, along with what will likely be minor chop into opex.

Notable movers so far...  CREE -16%... earnings were okay, but outlook...not.

*AAPL is already up almost $5 @ $494...a test of the big $500 looks very viable today.