Wednesday, 21 October 2015

Pre-Market Brief

Good morning, and welcome to the future. It is Oct 21st 2015, with US equity futures moderately higher, sp +5pts, we're set to open at 2035. A break into the 2040s looks due, with a test of the 200dma tomorrow... if Draghi threatens more QE.

Finally... the future is the present



So... we're set to open a little higher, as the underlying momentum increasingly swings back toward the equity bulls.

The market only has to ride through the next ECB and FOMC announcements... and if any daily closes in the 2070s... it will be a straight run into the 2100s.

*notable early weakness: oil, -1.4%.. ahead of the latest EIA report.

TWTR, -5.0% in the $29s.

Doomer chart, Hunter with Merk



Overnight Asia action

Japan: +1.9% @ 18554

China: hit a new cycle high of 3447, but cooled rapidly in the afternoon session, settling -3.1% @ 3320. This should be somewhat concerning to the bulls... who need to re-take 3400 again this week.

Embrace today... its all we got.