Market Alert - Pre-Market

Futures vs FV: SP500 +2.11; DJ +27.91; NASDAQ +8.12

In this market you are always concerned about weekend events that will impact the market the following Monday. You are not, however, anticipating or concerned about these type of events in Las Vegas. Our prayers and condolences for all families and individuals directly impacted by the shootings.

The stock market is rather unaffected by the event with futures holding modest gains. Trended higher all morning to highs just over an hour back. Tested off those highs, still holding some gains.

Week is full of economic data: Monday at 10:00ET is the ISM. Jobs report Friday. Lots of Fed speakers on the week.

Catalonia: Spain responds with shocking violence to the peaceful vote regarding secession. Several hundreds injured by riot police firing rubber bullets and wielding nightsticks at people lined up to vote. We are witnessing what happens when the old guard is being replaced. It looses power and lashes out violently. The EU says it is an internal matter for Spain to handle. Spain has a history of violent governments. That has not changed.


OTHER MARKETS
Bonds: 2.323% vs 2.339%

EUR/USD: 1.1755 versus 1.1812. Down on Catalonian election

USD/JPY: 112.57 vs 112.47

Oil: 50.49, -1.18

Gold; 1278.10, -6.70


Not a lot of economic news pre-market with the focus obviously elsewhere. Stocks are still in uptrends, having hit new highs on Friday and looking at some more to start the week.

After that, however, you see if the sellers use these new highs in all indices and the SP500 breaking up through the 2009 upper channel line as a trigger to sell.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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