Good morning. Futures are slightly lower, sp -3pts, we're set to open around sp'1792. Equity bulls have downside buffer of around 1% for most indexes before any problems. Metals and miners are weak, Gold -$2, whilst Oil is trying to rally 1%.
We have a lot of econ-data today this morning, along with the Fed beige book at 2pm. With sig' QE-pomo, bears face the usual problems.
Bulls have just over 100 Dow pts of downside buffer, before any real problems.
Considering the key break higher in November, I'd be pretty surprised to see the Dow 15700s again this month.
Video update from Mr Carboni
A little economic doom chatter...Hunter with Prof. K
updates...across the day!
8.32am.. ADP jobs come in at 215k..which is annoying the market..the old 'good news is bad news' phenomena.
Meanwhile..as I suspected yesterday, metals are seeing a bounce, Gold is now positive, with Silver +1.4%. I could see SLV back to the low 19s..briefly..before next wave lower.
Notable early mover... TSLA, -1%, although that is after yesterdays 16% hyper-gain.