Pre-Market Brief

Good morning. Futures are moderately higher, sp +7pts, we're set to open @ 1697. A bounce into late morning seems likely, not least with mid-sized QE of $3bn. Precious metals are also higher, Gold +$6. Bears should be able to contain the bounce <1709.


sp'60min

Summary

So..we're going to open higher, and have a fair chance of breaking into the 1700/05 target zone in the first 90mins.

Indeed, as I've noted in past few days, look for maybe a ceiling/floor around 11am. That should be enough time for the market to exhaust itself on the bounce.

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I will be seeking to pick up an index-short block this morning, but as ever..if the price action is overly strong....I'll give it as much time as the maniacs can keep pushing it higher.

Notable movers: TSLA, GRPN, both on earnings.


9.36am... there is no hurry on this one..market looks set to rally for a few hours at least.

Lets see how high the maniacs want to drive it by 11am.