Wednesday, 28 October 2015

10am update - opening minor gains

US equities open a little higher, but price action is likely to be within a holding pattern ahead of the FOMC. Whilst the USD is -0.3% in the DXY 96.60s, metals are building sig' gains, Gold +$14. Oil is +1.0%.. ahead of the latest EIA report.



There is little reason to expect any sig' action until the FOMC announcement. The sp'2080s do look due though

It remains VERY probable we'll see a short term top today... with Q3 GDP data likely to be lousy tomorrow... with the market using it as an excuse to trade lower.

notable early movers...

AAPL, 15min

An interesting opening gain... but it looks like sustained action in the $120s is unlikely in the current cycle.


... awaiting the EIA report... (10.30am)