Pre-Market Brief

Good morning. Futures are moderately mixed, sp +1pt , we're set to open around 1845, whilst the Dow is  -15pts or so. Metals are set to open fractionally lower, and the summer 2013 lows look set to be broken at some point this year. Notable post earnings weakness in IBM, -4%.


sp'60min

Summary

So...minor chop to start the day.

With $2-3bn of QE money due to kick in after 10am, equity bears should be concerned about the market grinding higher into the afternoon. Any daily close in the sp'1850s will most certainly open up the target zone of 1860/80 by next weeks FOMC.
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Notable early mover: IBM -4%, which will of course have a very strong effect on the Dow, maybe as much as 50/75pts.
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Video update from Oscar




Gold bugs sure won't like what Mr Carboni has to say about the metals, and neither will the equity bears be particularly happy with it.

For me...'stops are (usually) in..emotions are... in', best I can do.
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Have a good day..if you can!