Pre-Market Brief

Good morning. Futures are a touch higher, sp +1pt, we're set to open at 1950. Precious metals are weak, Gold -$5.  With sig' QE-pomo this morning, equity bears are going to find it difficult to push lower. A minor bounce seems likely, before a further wave lower late today.. or Thursday.


sp'60min

Summary

*awaiting revised GDP Q1 data
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We have a clear break of short term trend on the hourly.

A bounce wave seems very viable..before a secondary (C wave?) lower late today..or early Thursday.
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Notable strength: WFM +1.2%, but still below the $40 threshold. 

Good wishes for Wednesday trading  :)


8.30am.. GDP Q1 revised... -2.9%... err.........thats rather severe....

Indexes slip a touch lower, but really...-2.9%...ugly



9.04am... sp -3pts... so that is 1946.....

Equity bears getting an opportunity to exit at the open...before a latter day ramp...probably back to 1955/60 zone.

The QE today will most certainly help.


9.34am.. opening reversal likely underway...

Bears beware... sig' QE coming at 10am