Good morning. Futures are moderately higher, sp +5pts, we're set to open at 1780. Metals are similarly trying to bounce, Gold +$5. Equity bulls should have a reasonable chance at closing the week on a slightly up note, but still on a net weekly decline.
So..overnight declines..swing to pre-market gains...no doubt some will be dismayed at that.
Hourly cycles should offer the 1790s to the bulls by next Monday, the only issue is whether we put in another lower high..or battle upward..past the FOMC. As it is, I think the market will battle higher..regardless of what the FOMC do next Wednesday.
Notable strength: STX +1.8%
Video update from Oscar