Pre-Market Brief

Good morning. Futures are moderately higher, sp +5pts, we're set to open at 1951. Metals are weak, Gold -$3, with Silver -0.7%. Oil is lower by a significant -1.6%. Equity bears are back in control, and should be able to push generally lower into next week.


sp'daily5

Summary

So..we're set to open a little higher, but I'd assume the market will turn red at some point today.

For me, the VIX remains a key issue... bears really need to see 18/19s to give more credence to the current down wave from sp'2019.

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Update from (an even louder than normal) Carboni



Oscar is indeed correct to highlight the VIX.. and the issue that it gets stuck around the 200 MA. Bears really need a weekly close >17.50.
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Notable early strength: TSLA +5.6%, I've no idea why, but then.. its a momo stock.
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Good wishes for Thursday trading!
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8.53am.. Draghi is talking..... indexes starting to slip..... sp +2pt.... 1948.


9.06am.. Indexs turning red... sp -1pt.... Mr Draghi is not inspiring anyone right now.


9.21am.. sp -3pts... 1943..... the ECB chatter is not pleasing anyone.


9.41am... minor bounce appears underway...

I've a target re-short zone of 1958/60... possibly by 11am.