Pre Market


At 5AM the Russell and S and P 500 futures sold down to their respective century marks. I cannot find news behind this move, though there may be some. It looks to me like a well timed shake out. A market that opens down like this after Friday’s float higher will likely turn higher, perhaps sharply. Astonishingly, all major national market indexes are above their 20 month moving averages. Some global synergy is at work, maybe. If the cash indexes open at their century marks, the hedges from Friday can be sold. If the markets continue downward, adjustments can be made.

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