Pre market

Most markets in Asia were closed including China and India are closed for May Day. Japan ended down. The European markets are closed as well apart from London which is trading down.

EARNINGS CALENDAR

Proctor and Gamble reported stronger than expected sales and earnings. The shares are however trading odwn in pre market.

Liz Claiborne share price is being ripped to pieces as earnings fall sharply . LIZ investors are not too Lucky(Brand) as earnings are not Juicy(Couture)enough ?

Archer Daniels reports profit below analyst expectations as grain costs rose sharply. Share price is down.

I expect continues weakness in the market today. We need to get a test of 13,000 or even less before the uptrend continues.