Pre-Market Brief

Good morning. Futures are moderately lower, sp -6pts , we're set to open around 1839. Precious metals are a touch higher, Gold +$1. Mr Market will doubtless be curious to hear what Fed chair Yellen has to say to the US Senate. With rather heavy QE of $3-4bn, bears face major problems.


sp'60min

Summary

*awaiting jobs, and durable goods orders data (due 8.30am)
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So..early minor equity weakness, but it is not significant.

First soft support is the 1840 floor. If that does fail at the open, there is viable downside to 1830/25 zone.

On no basis though, can I see the market breaking <1800 for another few months. Price action continues to be very much in favour of the bulls
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Notable movers

TSLA +3.9% @ $263 (yeah...up again, huh)
RIG +1.6% - on earnings, which frankly, weren't that good
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8.31am... econ-data comes in somewhat mediocre..nothing particularly terrible..or great.

Market trying to rally back... sp -3pts... takes us back to 1842.


8.46am.. the turn continues.... sp -1pt....back to 1844.    Metals picking up, Gold +$4


9.24am.. market set to open -3/4pts... so..bears have a bonus chance to break <1840.

All things considered...I don't think they can do it.
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9.37am.. opening reversal.... 1840... holds..yet again.

awaiting the Yellen..due around 10am.......