Please enable javascript in your browser to view this site!

Pre-mkt Surge carries prices right to Area of Breakdown

This am's early strength hasn't changed much from last night when Futures gapped higher on the open of Electronic trading Sunday and haven't budged.  This area coincides with the exact support that was violated early last week at 2107 SPZ6 and should prove important for today- The US Dollar surged vs Yen to the tune of 1.20%,  Crude has turned higher while Gold is lower by 1.3%, or 16. Global Sovereign yields meanwhile have turned back higher along with most equity indices in Europe and Asia which are largely higher by 1%+    Overall, trends remain lower from mid-October and tough to make too much of this early bounce, and given the uncertainty of the election, it still looks wise to use last night's bounce to consider lightening up and flattening ahead of tomorrow, while using dips to buy if given the chance in the next couple days.  Key areas of resistance from this am lie at 2107-9 then 2115 while on the downside- 2094 important, then pivot support lies at 2080-4- Pre-mkt movers include CEMP, LC, RACE, PAH, MEET which are all higher, while PLUG, MUX, CDE, HL and NEM on the downside-  Let me know if you have questions