Good morning. Futures are moderately higher, sp +9pts, we're set to open at 1850. Metals are weak, with Gold -$5, Silver -1.1%. Despite the gains, equity bulls face a concrete resistance zone of 1865/75. A busy week is ahead for those in market land!
*awaiting econ data - empire state, indust' prod', housing.
**equity bears should be concerned with sig' QE this morning of $2-3bn.
So....as I feared last Friday afternoon.. despite a fair few people getting overly excited about 'omg, big gap lower on Monday'..the market is set to open higher.
However, I would agree that the Ukrainian situation is far from over.
Video update from Mr C.
I'd guess Oscar might be shorting the open, although I'd argue against that. Never mind the issue that the 'Aunt Janet' is due this Wednesday. The last comments he makes are more notable though, as Mr retail clients are indeed finally going 'all in'. after largely sitting on the sidelines since 2008/09.
Good wishes for the trading week ahead.
8.47am. Empire state comes in a bit weak, but market doesn't care.
Notable early movers: UGAZ +6%, GRMN +2.5%
9.02am... market holding gains, sp +7pts, 1848.
UGAZ +8%, GRMN +4.5%. Kinda interesting.
*Look to the VIX this morning, 15s look due...by Wednesday afternoon...
9.24am.. well, sp+10pts...1851... hourly MACD cycle offers upside all the way into the FOMC announcement.
Until then..I'm content to watch and wait. A short in the sp'1865/75 zone...is the target.