Wednesday, 16 July 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +7pts, we're set to open at 1980, a mere 5pts shy of a new historic high. Precious metals are similarly higher, Gold +$4, whilst Oil is trying to retake the $100 threshold, +0.7%



The setup is VERY similar to yesterday.

Not only do we have a small bull flag on the micro 5/15min cycles, but we're due to open moderately higher, and Yellen is due at 10am.

It is really quite like Groundhog day.

As follows, a rather typical 'dollar doomer' interview, Hunter and some guy called Egon (sadly, not a ghostbuster).

I completely disagree with the notion of a USD collapse, which is completely implausible, since most other currencies are weaker. As ever, make of it what you will.

Notable early strength: INTC +4.7%, on earnings.

Good wishes for Wednesday trading