Monday 30 September 2013

Pre-Market Brief

Good morning, and welcome to the last day of Q3. Futures are somewhat lower, sp -14pts, we're set to open around 1677 - the gap '3 zone, and where the 50 day MA is lurking. Indeed, equity bears should be seeking a daily close anywhere in the 1670s. Metals/Oil are both moderately lower.


sp'60min


sp'daily5


Summary

Well,  this is one way to end the third quarter I guess! Market is lower, but still..its nothing significant yet.


Bears lost in hysteria?

I'm starting to see a lot of crashy talk out there, talk of multiple thousand point drops on the Dow across the next few weeks/months. Haven't we been here before.. a few dozens times since autumn 2011...and how did it ALWAYS end?

QE continues, and any shutdown...won't last long...at which point the market will snap back higher.
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One thing is for sure...at least today won't be dull!


9.43am..black candle on the VIX hourly/daily....bears should be very mindful of that.



stay tuned!