Pre-Market Brief

Good morning. Futures are a touch lower, sp -1pt, we're set to open at 1948. Precious metals are a touch higher, Gold +$2. Equity bulls look set for another week in their favour, although there remains minor opportunity of a small 1-2% retrace.


sp'daily5

Summry

The 'retrace', even if  there is one, is likely to be brief..and very minor. In my view, such small down waves in a broader up trend are... untradeable, even for the more adept day-traders.

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Update from Mr Permabull



Not surprisingly, Oscar is bullish..into the sp'2100s.

Interestingly, the 2100s would be a key fib level..and certainly, the current trend offers a hit of that level towards the end of this year.

sp'monthly9

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Good wishes for the week ahead.

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9.39am.. Well, VIX is a little higher, indexes..micro chop.

I have eyes on WFM..might pick up late today..or more likely..early tomorrow (ahead of Tuesday QE).