Friday, 6 May 2016

Pre-Market Brief

Good morning. US equity futures are moderately lower (ahead of the jobs data), sp -7pts, we're set to open at 2043. USD is -0.1% in the DXY 93.60s. Metals are mixed, Gold +$1, whilst Silver -0.1%. Oil is -1.4% in the $43s.



*awaiting the jobs data... due at 8.30am.

Suffice to add..  if we can break under 2040 in early morning... that will open the door to a weekly close in the 2020s.

... and any such close would give initial clarity/confidence that 2111 is a key mid term high.

Update from Mr C.

Overnight action

Japan: -0.2% @ 16106
China: ending the week badly, -2.8%  2913
Germany: currently -0.8% @ 9770

Have a good Friday... back shortly... for the jobs data.

8.31am... Net job gains: 160k,  headline jobless rate: 5.0%

sp  -11pts.. .2039.... we have a provisional break through...

Metals catching a fear bid, Gold +$10.

..notable weakness.. financials.. BAC -1.8%.. as threat of a rate hike drops even further.

GPRO -9% @ $9.70.... a real mess... after earnings.-

8.43am.. sp -13pts... 2037..... . taking the first of two soft lows of 2039/33.

A break into the 2020s by 11am would be useful.. and open up a test of the 200dma (2012/11) for the weekly close.

Pre-market VIX.. +3% in the 16.40s.... equity bears need to see 17.20s.. if not 18s today.

8.47am.. with Gold +$11... the miners are naturally on the climb, GDX +2.0%.

9.11am.. sp -9pts... 2041....  Hmmmm

The Cramer seems moderately twitchy.. even talking about 'the overstretched rally from 1810'.

Ohh.. so now we're on the high side huh?