Morning Notes
- Premarket strength at last
- Shanghai finally got a bounce in the o/n, closing up 1.4%
- On the flip side, Nikkei closed down 1.6%, which is the worst performance Japan has seen in two months
- European bourses are up this morning, financials leading the way for the most part
- German IFO data came in better than expected, which also rallied the euro
- UK December Retail Sales came in worse than expected- analysts are pointing to poor weather for those results
- Commodities are mixed
- Oil up, nat gas up, gold weak, silver weak
- S&P futures are up 8 handles from FV, breaking through the R4 pivot level- hence, we are on the R4 buy signal
- S&P is down about 1% for the week, worst weekly performance since November
- There is nothing on the economic calendar for today
- Note that today is January options expiration
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