Monday 4 May 2015

10am update - opening gains

US equities open moderately higher, with the sp +11pts @ 2119. VIX is naturally subdued, already hitting a low of 12.10. Metals are battling to hold early gains, Gold +$10. Oil is moderately weak, -0.9%


sp'60min


Summary

*Factory orders: 2.1%... a touch above expected
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Its not looking good for those in bear land... although clearly, until we're above sp'2125...  the near term outlook is not 100% definitive.
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notable weakness: BABA -0.8%....


A failure to hold the $80 threshold would bode VERY bad for earnings,due this Thursday morning.
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*Fed official Evans speaks this lunch time... and Mr Market will be listening for any chatter on int' rates.