Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open at 1655. Precious metals are a little higher, Gold +$5. Bulls should be desperate to keep the current bounce going, with a daily close in the 1660s. Bears need to break into the 1640s by the Friday close.


sp'60min

Summary

*ADP jobs : 176k, in line..and enough to keep the market calm.
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There is a lot of other econ-data today, along with a QE of $3bn.

Bears need to be very careful today..and possibly into tomorrow.
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I remain on the sidelines, am seeking a re-short, but..am not in a hurry..at least until I see the sp'1660s, with VIX in the low 15s.

..over in permabull land...



Not surprisingly...Oscar is bullish.