Thursday, 29 November 2012

Pre-Market Brief

Good morning. Futures are sp +8pts, we're set to open around 1418. We are now within immediate striking range of my 1425 target, from the 1343 low. A peak on the hourly cycle is viable at ANY time this morning.

GDP Q3 (revision'1): 2.7%, an upgrade from 2.0%.
Jobless claims: 393k, pretty lousy though.




Its pretty exciting seeing the market already suggesting we'll open around 1418, a mere 7pts from my target.

Lets be clear...

I am not going to get overly fixated on a particular target today. If we get stuck around 1418, 20, or 23, I don't much care.

I will short via the hourly cycle, and when it levels out, that's when I'm hitting buttons.

Also, I will pay particular attention to the Transports. It has the cleanest waves, and is a good guide for the other indexes.

The best wishes for Thursday trading !

UPDATE 9.35am.. we're almost there, should see this level out by 10.30/11am

Almost there