Good morning. Futures are a touch lower, sp -1pt, we're set to start the week at 1977. Metals are a little higher, Gold +$2. This week will likely see QE-taper'6, a 'relatively' weak Q2 GDP number, but a 'reasonable' monthly jobs data point.
*we've two pieces of econ-data around 10am...
A very busy week ahead... especially Wednesday, and of course.. more corporate earnings.
All things considered, I do not see the weekly 10 MA being broken - which at today's open will jump into the low 1960s. On the flip side, a monthly close (Thursday) in the 1980/90s.. looks viable.
The first real opportunity of sp' 2000 looks to be this Friday.
update from an apparently tired Mr Permabull
Good wishes for the week ahead!
8.53am... market turning up... sp +2pts.... 1980... R2K +0.3%
Metals naturally slipping.. Gold -$3
9.39am.. opening black-fail VIX candle.... bodes badly for the bears.. if it sticks to 10am.
Minor chop, and there looks to be zero downside pressure...
awaiting some econ-data. 9.45/10am
9.49am... major fail... Friday lows taken out. ... but still..volume is light.
notable resilience.. AAPL, +0.2%