Tuesday 14 May 2013

Pre-Market Brief

Good morning. Futures are a touch higher, sp +1pt, we're set to open around 1634. Precious metals and Oil are both moderately weak, -0.5%. Today is a 3bn QE-pomo day, and there is little reason why we won't be closing in the 1640s.


sp'60min


Summary

Certainly, we're seeing a little weakness in a few things out there, but once again ,its nothing significant.

*I remain interested in going long Oil.

USO, 60min


It would seem very unlikely USO going under 33.20. Perhaps 33.50/40s this morning, but higher into the afternoon?

Video bonus from Oscar...




9.40am... well, there goes the SP', now 1638....those 1640s look viable by 10am.

no doubt, some bears getting the boot here.

Oil is lower, but it sure ain't interesting to me at that price.