Friday Forecast

Good Morning.  The spoos are weak today, but not to the extent that they had been.  Overnight S&P futures had fallen by as much as 16points on tensions deriving from the G20 meeting in South Korea and hawkish rhetoric from President Obama regarding Chinese trade policy. Countering a bearish open in the mind of traders will be the fact that the Fed plans to buy treasuries pretty much everyday for at least the next month, to the tune of about $100billion dollars. Now then, I wouldn’t pretend to know where we’ll be 30days. Why bother? Let’s just watch the charts, take it day to day, and stay nimble.

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