Le Grave, France

Pre-Market Indicators (glacierside)

Good Morning NY.Le Grave, France

  • EURUSD (1.2422) + 0.18%
  • Gold Futures (GC) solidly over 1600 ($1610.60)  0.18%
  • Oil Futures(CL) + 1.07%
  • S&P Futures (ES) just tagging 1400 + 0.56%
  • CAC40 + 1.38% 
  • FTSE + 0.13%
  • Asia: (NKD) + 1.77%
  • Corn Futures (ZC) – 0.37%
The markets continue on their optimistic vacation footing, which is what I’ll be concentrating on, over the coming days.
This is where things get tricky for the S&P Futures which just tagged 1400 on weak volume. Between 1400 and 1405 is where I want to add to my short futures position. I’ll watch the trend, but be short certainly over 1405.
As you know I follow closely the put/call ratios and volume (here), what strikes me is the low index ratio, 0.86. Only 3% of the time since June 2011 has it been this low. This is a bearish sign.

The week might drag on like this until Thursday, when the initial and continuing claims numbers come out.