Good morning. Futures are moderately higher, sp +5pts, we're set to open at 1854. Unlike Wed/Thursday, equity bulls have no QE to help, and it will be interesting to see how many of the rats bail into the weekend. Metals are flat, but look set for significant net weekly declines.
*awaiting data: pers' income/outlays, consumer sentiment.
So...yet again, we're set to open higher, but hey, how has that worked out in the previous FIVE occasions?
Bears should seek at least a moderate net weekly decline, right now the breakeven line is sp'1866.
Anything in the 1840s would offer more clarity for next week. A close in the 1830s would be a bonus.
Good wishes for Friday trading.
Morning doom chatter from Hunter
9.10am.... futures remain sp +4/5pts ...to 1854 or so.
Metals have turned lower, Gold -$3.
For the opening 30minutes..look for black-fail candles on the hourly index charts, and a reversal (hollow red) candle on the VIX.
Another reversal today..seems very likely.