Friday, 29 August 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +5pts, we're set to open at 2001. Metals are a touch weak, Gold -$4, whilst Oil is +0.3%. Equity bulls look set to close higher for the fourth consecutive week.



*awaiting a trio of econ-data, most notably, Chicago PMI @ 9.45am.

So..we're set to open back in the 2000s. Whether the bull maniacs can attain a weekly/monthly close in the 2000s, it is not really important...would merely be a bonus.

Once this mornings econ-data is out of the way, it will likely be a very quiet day..leading into a 3 day holiday weekend.

There are of course end-month trading issues, with (I believe) some degree of rebalancing.

9.15am.. Notable early strength: TSLA +2%

9.34am.. Upper bollinger on the daily is now up to 2024..... so..we could easily be in the 2020s next week.

9.45am.. PMI: 64.3 vs 56.4 exp' .. a hugely bullish number... best since May.