Thursday 13 March 2014

Pre-Market Brief

Good morning. Futures are slightly higher, sp +3pts, we're set to open around 1871. Precious metals are fractionally higher, Gold +$1.With sig' QE-pomo of $3-4bn, equity bulls have their best opportunity this week to again push higher.


sp'60min


Summary

*awaiting retail sales, jobs data
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So...having hit a new short term low of sp'1854 yesterday morning, we're now around 1% higher, and with the QE today, I can't imagine the bears having any control until after the FOMC next Wednesday.
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Notable early mover: DRYS +2.2%, but that is still below yesterdays level.
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Video update from Mr Permabull


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8.32am.. retail sales..mixed..when considering the previous month revisions. Jobs data..slightly better.

Market rallies a few pts.. sp +5pts...takes us to 1873. - a mere 10pts shy of a new historic high.

With the QE today, little reason why we won't break back into the 1880s.