Pre-Market Brief

Good morning. Futures are flat, we're set to start the week around sp'1744. Metals are mixed, Gold is flat, but Silver +1%. Oil has broken below the big $100 threshold, -1%.With the weekly charts looking especially strong, equity bulls should remain comfortably in control into November.


sp'60min

Summary

It looks like a quiet start to the week. Underlying pressure remains to the upside, and a daily close in the 1750s is likely.

ALL index cycles are primed for further upside, especially the weekly cycle, which will be turning positive for many of the indexes/sectors today.

It looks like the momo stocks are doing especially well in pre-market, NFLX, FB..all the usual suspects are breaking new historic highs. GOOG is +$7 @ $1018, when will someone be brave enough to suggest $2000 'within a few years' ?

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*Bears should be mindful of a QE of $3bn today (and also Wednesday), that will no doubt make things...difficult.
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