Pre-Market Brief

Good morning. Futures are moderately higher, sp +3pts, we're set to open @ 1683 - a mere 4pts from the recent high. Precious metals and Oil are both lower by around 1%, with the USD +0.25%  This week will again be largely about what the Bernanke has to say.


sp'60min

Summary

*Retail sales just came in a bit weak, +0.4%,. vs market expectations of 0.8%

There are business inventories @ 10am.
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There might be a pull back later this week, but I don't expect it to be much, nor last for very long.
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*I am on the sidelines, but will look to pick up an Oil-long position early this morning. There seems absolutely no point in attempting any short side positions for some weeks to come.

Good wishes for the trading week ahead!
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Video update from Oscar...



No surprise that he is bullish...