Today, the Market appears set to open lower led by weakness in the financials and commodity names. We expect the Market to trade mainly in a range today between 109 (sup) and 110.50 (res). We are also watching the 111.40 level in GLD. Below 111.40 we could see further downside in Gold today.

Our best AM Idea for today, which we highlighted in our AM Meeting is to short GS into a pop close to 163.80. Targets: 162 and 160.

Don’t forget to follow us on Twitter!