Pre-Market Brief

Good morning. Futures are moderately lower, sp -6pts, we're set to open at 1918. Precious metals are catching a minor bounce, Gold +$3. Market remains vulnerable to a small retracement, primary downside would be the sp'1905/00 gap zone.


sp'daily5

Summary

*awaiting Factory orders data at 10am.
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So..we're set to open a little lower, but really, I don't think we'll see any significant price action until Thursday - ECB announcement day. Until then..mostly minor chop.
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Video update from Oscar



Naturally..bullish.
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9.35am.. black-fail candle on the VIX.... equity bears..beware.

The fact there is sig' QE due at 10am....will make the situation even more difficult.


9.55am.. black candle on the VIX....remains a key problem for the bears.