Thursday 17 July 2014

Pre-Market Brief

Good morning. Futures are moderately lower, sp -7pts, we're set to open at 1975. Metals are a touch higher, Gold +$2. Equity bulls have $2bn to help negate what sell side volume there is today.


sp'daily5


Summary

So... we're set to open a little lower, but as ever...this is likely just another tease to the bears.

There are multiple aspects of  support in the low 1960s, but even more important, the weekly 10MA. .currently in the mid 1940s.
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*I will very likely pick up a long index block, in none other than the R2K... tomorrow. The 1150/40s is a very tempting area, having pulled back from 1213. For today, I'm a watcher, but not a fallen angel/rock monster. (you've seen the movie Noah, right?).

Good wishes for Thursday trading.