Pre-Market Brief

Good morning. Futures are moderately lower, sp -4pts, we're set to open around 1838. Metals are mixed, with Gold +0.1%, whilst Silver is -0.6%. Equity bulls look set for a challenge of the 1849 high this week, with an upside target zone, remaining...1860/80.


sp'60min

Summary

The second full trading week of 2014..awaits!

There sure has been an awful lot of doomer talk over the weekend in the chart/blog sphere. This is pretty surprising, considering the past week of price action, which is indicating the market is still very strong.

There is a very strong support zone of 1810/00, with the 50day MA now lurking in that area. A break <1800 simply doesn't look possible in the near term. 
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notable early movers: TWTR +4%, DRYS, -1.5%


9.03am.. Something I just noticed... Oil -1.1%....and Gold is following, now -$2


9.23am.. Ford, +1.6%...good follow through from last weeks break back over the 200 day MA. Next to clear the 50 day MA.. in the  16.40s. If it can hold that...then the original target in the low 14s looks off the table.