Friday, 13 November 2015

Pre-Market Brief

Good morning. US equity futures are a little weak, sp -4pts, we're set to open at 2041. USD is trying to stabilise, +0.1% in the DXY 98.70s. Commodities are bouncing, Gold +$2, whilst Oil is +0.4% in the $41s.



It is Friday the 13th, and for those who get easily spooked.... perhaps its best to stay in bed all day, with all windows/doors locked.

Seriously though, market still looks a little shaky... although I'm guessing today will end broadly flat.

VIX daily cycle though is still arguing for 20s... and that will equate to sp'2020s... but more viable... next Mon/Tuesday.

notable early movers

Nordstrom (JWN) -21%.. after lousy earnings
Cisco Systems (CSCO) -5.9%.... post earnings upset

BAC -1.1%. as threat of rate hike lessens.

Update from Oscar

I have followed Oscar since late 2008, and I certainly do respect his view. His comments in this video are somewhat spooky.

*the US market achieved a VERY powerful close last month, above the key 10MA. Yet... other world markets are yet to achieve that.

Certainly, I want to see NEW highs before year end in some indexes (Dow, sp, Nasdaq), along with other world markets also closing above their respective 10MAs. If not.... its a very serious problem.

For now.... I'm still guessing we battle broadly upward... helped by low rates and continuing QE (such as from the ECB and BoJ).

Doomer chat with Hunter

I'll periodically slate Hunter for going soft on the Gold bugs (like the recent Hemke interview), but his end week news roundups are pretty good.

Overnight Asia action

Japan: -0.5% @ 19596... a little weak into the weekend
China: -1.4% @ 3580. It will be VERY important for the Shanghai comp' to hold the 3400s.

Have a good Friday.

8.31am.. retail sales, m/m +0.1%.... weak.

PPI, -0.4%... pretty sig', not great for the macro-bulls.

Its not inspiring those seeking a rate hike.... BAC -1.4%