Tuesday 17 December 2013

Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open at 1788. Precious metals are (not surprisingly) weak, Gold -$6, Silver -0.6%. Despite no sig' QE today, equity bulls should have a fair chance at battling at least moderately higher.


sp'60min


Summary

Well, the FOMC meeting begins today, with the annoucement tomorrow at 2pm.

No doubt, the only thing that Mr Market really cares about is a continuation of the 'benny bux' at $85bn a month. Considering next week is Christmas, and Bernanke is half way to the exit door, it simply makes no sense for any policy change until next spring.
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early movers: FB +$1 into the $54s - challenging the Oct' high


9.42am.. market testing old resistance...1782.... if bulls fail to hold it..could get interesting.