Good morning all from the blue skies of Dartmoor. The stock market made an amazing recovery from lows yesterday evening forming a reasonable pin bar for the day which COULD mean a bounce today. Those of you who bought the S&P at 1450 (a clear buy point as Fib retracement of 61.8% from August low to October high) should have made a little money. In theory if (big if) the S&P overcomes 1485, it should have a pop at 1500 (38% retracement). Obviously bounces usually would take the yen carry trades up with it so always worth bearing in mind the stock markets movements or potential movements. Markets are still very fragile though.

Today's economics: US trade balance and import price index at 1:30pm followed by consumer sentiment at 3pm.