Pre-Market Brief

Good morning. Futures are a little higher, sp +3pts, we're set to open around 1940 - a mere 15pts shy of breaking a new historic high. Precious metals are weak, Gold -$7. Equity bulls should be seeking moderate net daily gains, with the sp' in the 1945/50 zone.


sp'60min

Summary

*awaiting CPI data at 8.30am
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So, we're set to open a little higher, and I'd be surprised today if we don't get a daily close somewhere in the sp'1940s.

Yes, it could be a bear flag - as seen on the hourly/daily charts, but... price action does not favour the bears. It took the bears almost a whole week just to knock the market from 1955 to 1925, and I sure don't see sub 1900s any time soon.

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Video update from Mr Carboni



Certainly, I agree with Oscar on the R2K, and I am seeking the 1190/1200s within a few days.
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Good wishes for Tuesday trading!
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8.33am. data comes broadly in line....  but indexes swing lower... sp -2pts, 1935.

Metals still slipping, Gold -$9