Pre-Market Brief

Good morning. Futures a touch higher, sp +2pts, we're set to open around 1685. Hourly charts are offering upside into the Friday close. Bulls need at least a weekly close >1675, which will set up the 1700s next week.


sp'60min

Summary

So...the bears aren't getting a big gap lower..and with QE today of 3-4bn, the market could even achieve a weekly close in the 1690s.

That would surely seal the fate of the bears for at least a few more weeks.
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*I am long the indexes, and would consider an exit in the mid 1690s later today, although that seems somewhat unlikely.