Friday 1 November 2013

Pre-Market Brief

Good morning, futures are a touch higher, sp +1pt, we're set to open around 1757. Metals are weak, Gold -$10. Equity bears have a fair opportunity to knock the market somewhat lower into the weekend, the low sp'1740s look viable today.


sp'60min


Summary

Welcome to November.  :)

Considering the last two days, I have to think the 1775 high will not be broken for some while now, perhaps a week or two at least.

Today should see some further selling, not least as price momentum swings increasingly to the bears. This really is the first decent opportunity of a major down close in over four weeks.

With no significant QE-pomo today, lets see what the bears can manage today!

Notable movers..
NFLX +$8 to 331
FB +80 cents to 51.00

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