Thursday, 16 April 2015

Pre-Market Brief

Good morning. Futures are moderately lower, sp -6pts, we're set to open at 2100. However, another latter day recovery would seem highly probable. Metals continue to climb, Gold +$3. Oil is cooling, -1.1%.




*it is notable that we have a second green candle on the weekly 'rainbow' chart... there is simply nothing bearish here, and the sp'2130s look due.

So... we're set to open a little lower, but all things considered, the declines won't likely last long. New historic highs look due, with the R2K/NYSE Comp' already having done it

Earnings are clearly coming in better than most expected, and if that continues, market should easily battle higher into next month.

For me, the only issue is whether we see a short term high by mid May... or mid June. Even then... downside is going to remain very limited unless something scary happens.

notable strength, NFLX, +12% to $532... as earnings miss.. but hey... if its good enough for AMZN, why doesn't everyone just trade at a loss?

C +2.1%, as earnings beat.

Update from Mr C.

Have a good Thursday