Pre-Market Brief

Good morning. Futures are a touch lower, sp -3pts, we're set to open at 1876. A retrace to the 1875/70 zone seems likely this morning, before the algo-bot upward melt resumes. Metals are set to open moderately higher, Gold +$3.


sp'60min

Summary

I will note again that the original retrace target zone of 1850/40s now seems out of range. I suppose its still viable, but weekly charts argue against it.

Regardless of the minor noise, the sp'1900s look a relatively easy target before month end, even with QE taper'4 due next Wednesday.

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Video from Hunter, with some doomer chatter on bank bail-ins


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Have a good Wednesday!


9.08am.. NFLX, is having issues..-3% @ $362. WIll be one to watch today.

UPDATE.. watching clown finance TV... it would seem AMZN has linked up with an exclusive deal with HBO.

I can certainly now understand why NFLX is getting knocked lower. 



9.37am.. choppy open..

LONG ... RIG.    Weekly charts are offering sig' upside next week. I'm in from the low $41s.