sp'60min
Summary
*awaiting a wheel barrow of econ-data today.... and don't forget the Fed beige book due at 2pm
The ECB rate decision: no change. A Draghi press conf. is set for 8.30am EST. That will be market moving.. esp' for the currencies, and by default metals/oil
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So, we're set to open slightly above declining trend/resistance... currently at sp'2115
Like Mon/Tuesday, a break above would surely negate any chance of renewed weakness to the sp'2080s.
Equity bears should be desperate for a pre-market swing back <2115, or this could spiral out of control to the upside. Right now... it not looking good.
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Update from a typically loud Oscar
Certainly, I agree with Mr C. on Gold, the H/S formation, if correct would be highly supportive of Gold falling to the giant $1000 threshold by the early autumn.
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Doomer chat, Hunter with Morgan
As ever, make of that... what you will.
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Good wishes for Wednesday trading
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8.16am.. ADP jobs: 201k vs 165k previous... one of the better data points in recent weeks. Bodes 'okay' for the Friday jobs data.
9.00am.. sp +6pts... we're set to open at resistance of 2115. Bears really need an opening reversal...
..Draghi talking.... its getting a little tiresome already, these press' conferences feel like they last many.... many hours.