Wednesday, 5 August 2015

Pre-Market Brief

Good morning. Futures are moderately higher, sp +8pts, we're set to open at 2101. USD continues to climb, +0.1% in the DXY 98.00s. Commodities are mixed, Gold -$1, whilst Oil is +0.5%.



*awaiting ADP jobs data (8.15am EST).

So.. we're set to open a little higher... but I would be surprised if the gains are sustained across the day.

Until the bull maniacs can get a daily close >sp'2110.. the bears should not be overly concerned.. not least as the VIX has already been crushed to the 11s. Its not like it can go much lower, right?

early movers...

DIS -7% in the $113s...  EPS beat.. a minor rev' miss, but the market was upset with guidance. I have high confidence in DIS for the long term, but clearly... the stock is now broken, and looks headed for the big $100 threshold by early October.

AAPL -1% in the $113s... seemingly headed for the 105/100 zone.

Update from Oscar


Doomer chat, Hunter with Turk

I think Turk is largely one of the lunatics, but as ever.. make of that.. what you will.

Overnight China action: The Shanghai comp' was weak for much of the day, settling -1.6% @ 3694.. a mere 10% from breaking the recent low of 3373. No doubt, there is high risk that the PBOC will cut int' rates this Sunday.

Have a good Wednesday

8.16am.. ADP jobs.. 185k...   a fair way below market exp' of 210/215.

Equities holding gains... sp +9pts.. 2102.

USD turns negative, -0.2%....   Gold +$2.

.. next due.. PMI/ISM service sector data...

8.36am.. sp +13pts... 2106...  we're getting awfully close to the border here. Any sustained action >2110.. and that is a problem for those short.

As it is, did everyone already forget about the key AAPL break... or the Trans, TWTR/FB.... IBM.... DIS.... its a long... long list.

8.47am.. early movers...

PCLN, +8%... superb earnings.. and the company is very positive for rest of the year.
Z +6%... post earnings reaction

DIS continues to slide, -8% in the $111s.    I wonder what Deadpool would have to say about that.

9.04am.. Cramer is on Iger's case...

Bullish mouse lamps.

DIS intra low so far.. $110.63...  yesterday I saw a buyer top tick the stock @ $122.48 a few minutes before earnings.

9.11am... Indexes cooling a little, sp +11pts.. .2104.       As often the case... lets see if we max out around 11am.. and then cool for rest of the day.

Considering the opening gains... any net daily decline would make for a THIRD failed attempt by the bulls to rally. 

9.42am   The break levels are pretty clear.... 2108....   2110 to be decisive.. any sustained action over there.. and its white flag time.

VIX is naturally crushed... back in the 11s.

... all this despite huge technical breaks in AAPL and DIS.