Thursday, 12 November 2015

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -7pts, we're set to open at 2068. USD is +0.1% in the DXY 99.00s. Metals remain weak, Gold -$2. Oil is already sig' lower, -1.4% in the low $42s.



We're set to open decisively below the big bear flag...and frankly... its looking rather good for the 2050s today.. with VIX pushing into the 18s.

notable early movers...

FCX -3.8%.... as traders fear for the miners
SDRL -2.5%.... as Oil is headed <$40

Update from Mr C.

Overnight Asia action

Japan:+0.3% @ 19697... broadly stuck
China: -0.5% @ 3632... looking tired... a test of the 3400s looks possible.

Have a good Thursday

8.42am.. Gold -$4...  @ $1080.

Gold, monthly

The low to break is $1072... and then its open air to the giant $1K threshold. Gold bugs are in for a world of hurt into year end. Higher rates are bearish gold... and the related mining stocks will be similarly hit.

9.20am... The 200dma has been taken OUT in pre-market.

sp -13pts... 2062.

Gold... $1075... new multi-year lows... imminent.

9.40am... decisive opening... to sp'2060... another 10/15pts look viable by the close.

Time is an issue... bears window should stay open until late Friday/early Monday.

Commodities remain under pressure... with energy stocks getting trashed again.