May 262016
No significant news-flow overnight as European financials have underperformed and WTI oil futures hover around $50. A G-7 summit concludes today which could introduce some volatility, however the wildcard for today is a lunch time (12pm EST) speech from FOMC Governor Powell. Any new information about rate hikes or monetary policy changes could send the ES in either direction. We also have some tier 1 data on deck with weekly Claims and Core Durable Goods pre-market @ 8:30am EST. Volatility has been shrinking as the bulls try to push higher. Size bias is short into the 8:30am EST numbers.
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