Pre-Market

Overnight I wouldn't say the action was significant other than some starts to moves down in the PM's, but from around 8:45 to 9 a.m. something strange is going on in War sensitive commodities like Silver, Gold and Oil, the first two which I have expected to come down in the near term as mentioned last night,

"I'd think PMS would behave in similar fashion, I posted a SLV/Silver update today, I'll post GLD/gold tomorrow. but I can tell you from eyeballing the charts, GLD/gold looks like it has near term downside as there was distribution in to the move higher, there may be a position thre tomorrow."

If anything you might expect the opposite unless the market is aware of the window it has before uncertainty becomes too much of a burden.

Overnight the Senate Foreign Relations Committee passed a resolution authorizing the use of force against Syria with a 60-day period and an additional 30-day if needed which is larger than the 2-3 day strike that has been expected. In addition Moscow has not only sent two ships carrying a total of about 400 marines, but now another Missile Cruiser and Frigate in the very tight Theater of Operations in the Eastern Med.

I doubt CNBC would expect the market to behave this way with war sensitive commodities on the news.

 Brent Crude Futures being hit hard this morning...

Silver Futures also being hit hard on this 5 min chart, a possible positive 3C divergence may slow that move down soon.

Gold Futures taking a leap off a cliff pre-market.

However, ES (SPX Futures)...

Look strong, not a huge move, but a nice positive divergence.

Of course early trade is unreliable as it's a lot of games, but we'll be watching for a continuation of my theory from last night and as such, new positions to open.