PRE MARKET STUFF

Initial claims come in at 500k which is rapidly taking down the futures which were moving up nicely and near the fair value area-

The SPX has clearly run into some issues getting above the BIG 1100 number which is also the area of the EMA 20- however, after knocking on the door twice- it would not surprise me to see the third time be a charm.

RSI 2 levels are near 80 on most major indexes while the VIX is near the SMA 10 at 24.6.

Gold trading flat at $1,232 while crude is up a bit at $76.

The yield on the ten year note refuses to move up and is at about 2.641-

Oh and big M+A premium as INTC gets MFE for a 65% premium over yesterday's close- and SYMC also ripping higher on the news.

BESPOKE - on the souring strategists;

Buffet and Soros agreeing;

Myth of the Bond Bubble;

Dr. Sarah defends the racist;