Friday, 9 January 2015

Pre-Market Brief

Good morning. Futures are moderately lower (ahead of the jobs data), sp -7pts, we're set to open at 2055... still well above the 50dma of 2041/42. Metals are seeing a minor bounce, Gold +$5, whilst Oil is again on the slide, -0.7%



*posted before the jobs data, and no doubt, Mr Market might see a recovery between now and the open.

Well, a minor down open was always a minor threat, but I still expect the market to battle back higher later today.

Today is only day'3 in this latest cycle, and as many recognise, we could easily battle upward into next Fri' opex.

*a retrace back to the price gap of 2030 look VERY unlikely for least a week or two.

Update from an overly happy Mr C.

Thank the gods... its almost the weekend

8.31am... 252k net gains, headline rate drops to 5.6%

Arguably, a goldilocks number. Indexes clawing back upward.

sp' turns +1pt... 2063