Tuesday, 10 November 2015

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -6pts, we're set to open at 2072. A test of the 200dma (2063) looks probable today. Metals continue to remain mixed, Gold +$1, whilst Silver -0.4%. Oil is +0.4% in the $43s.




So... another day where we shall open a little lower.

Looking at the weekly chart, it'll be difficult to see anything more than a net weekly decline of >2.5%... so... no lower than around 2050 by the Friday close.

The 2020s look far more viable next week.

notable early movers..

AAPL -1.9% in the 118s
SDRL -1.3%.... a battered stock, struggling as energy prices remain broadly weak.

Update from Mr C.

Overnight Asia action

Japan: +0.1% @ 19671... as the BoJ are of course underpinning their entire market.
China: -0.2% @ 3640... clearly overbought in the short term, but then the communist leadership continue to restrain selling... 3400 is now strong support.

Have a good Tuesday