Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1661, after earlier being +5pts or so. Metals/Oil largely flat. Bulls still look set for the sp'1675/85 zone, but not until Tue/Wed - where there is sig' QE to help.


sp'60min

Summary

*market awaiting Durable Goods Orders at 8.30am: -7.3%...not exactly suggestive of a strong summer.
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Well, another week begins.

It really comes down now to whether the recent sp'1709 high holds. Considering the weekly - and even the monthly charts, I'm guessing yes.

For the big/serious money, it is very simple, with a last ditch short-stop in the 1700/10 zone.
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I remain on the sidelines, seeking to launch an index re-short, but not until the very large $5bn Tuesday QE is out of the way.

*notable mover already: the FB, which is almost in the $41s
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