Pre-Market Brief

Good morning. Futures are moderately lower, sp -6pts, we're set to open at 2011. Metals are a little higher, Gold +$2. Oil is sharply lower, -1.8%. Price action is likely to remain relatively subdued until after the Tuesday US elections.


sp'daily3

Summary

The fall in Oil is pretty dramatic, at some point Mr Market is going to have to 'catch down' to some extent.

Other than that... there really isn't much else to note. It is surely just a case of waiting until tomorrow for the first real opportunity of downside. Even then, its going to be damn difficult to hit the first soft target of the sp'1970s by late Friday.
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Notable weakness, Oil/gas drillers, RIG -1.6%, SDRL -4.2%
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9.36am.. Trans.. +0.5%, new historic high.... ... with VIX in the 15s... hmm