Pre-Market Brief

Good morning. Futures are fractionally lower, sp -1pt, we're set to open at 1682. The bulls merely need to consolidate prices sideways for the rest of the week, whilst bears need to kick the market lower by 35/40pts to close the week marginally lower.


sp'60min

Summary

Baring any sporadic news, today is likely to be rather quiet.
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Actually, in many ways, market is going to be susceptible to algo-bot melt. A close in the upper 1680s is very viable.

The one thing bears do have going for them..the hourly index/VIX charts are ticking lower, and we're set to go negative cycle this afternoon.
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All things considered though, between now and the FOMC of next Wednesday, we'll more than likely just keep pushing upward.

*Ohh, if I sound a despondent bear...its because I am. I just can't see much chance of significant downside until the FOMC, and even then, why will we not rally on 'taper only 10/15bn?'