Tuesday 12 November 2013

Pre-Market Brief

Good morning. Futures are slightly lower, sp -5pts, we're set to open around 1766. Metals are mixed, with Gold +$2, whilst Silver -0.4%. Oil is similarly weak, -0.4%. With the bond market open, today should be at least 'somewhat' more lively.


sp'60min


Summary

The near term outlook is difficult to guess. We could still fall to the low sp'1730s..but as many are increasingly suggesting, the more obvious trend remains to the upside.

The sp'1800s are clearly within range, we're only talking about less than 2%, and that is clearly viable across just a few days.
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For many individual stocks out there, the last few weeks look like a giant bull flag has been formed.

*no real news due today, and neither is there any sig' QE-pomo...so the bears have that going for them.