Pre-Market Brief

Good morning. Futures are flat, we're set to open around sp'1689. Precious metals are sharply lower, with Gold -$29, and Silver -66 cents. Oil is holding gains of 0.7%  Near term trend remains clearly upward, and bulls should be content with any close in the 1690s.


sp'60min

Summary

*weekly jobless claims:  292k, that is the first sub 300k number I can recall in a long time. Although now clown finance TV is reporting the labor dept' as saying the number is faulty due to reporting from a few states.
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So..equities look set to open flat. I think there is a reasonable chance of a minor down cycle early this morning, but nothing more than 0.5%

All things considered, we should generally climb higher into the middle of next week.

The big unknown is how will the market react to any QE reduction.


Meanwhile...in permabull land



Hmm
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*I should note that if the price action looks stable, I will look to go long-indexes this morning. Coming from me, I realise that is ironic.


9.03am... Gold bugs really getting whacked, Gold -$34, Silver -95 cents. 
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9.48am.. I'm long the indexes from sp'1687. Seeking the sp'1700s within 2-3 days.