Pre-Market Brief

Good morning. Futures are moderately lower, sp -8pts, we're set to open at 1986, clearly taking out the Monday low. Last weeks low of 1978 remains rather critical. Metals are trying to bounce, Gold +$14, the lower USD, -0.4%.. will no doubt help.


sp'daily5

Summary

So... we're set to open lower, and with yesterdays low taken out, I'm not sure what to think.

The one thing the bulls do have this morning... $1.7bn of QE.... that will help, but will it be enough to negate the sell side volume?

Overall, today will be important... eyes on the recent low of sp'1978.

Notable early weakness, BABA -1.7%, TSLA -1.9%

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Video update from Carboni


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Good wishes for Tuesday