Thursday, 21 November 2013

Pre-Market Brief

Good morning. Futures are moderately higher, sp +5pts, we're set to open around 1786. Precious metals are a touch higher, gold +$2, with the USD -0.1%. With sig' Qe-pomo today, equity bulls have a fighting chance of a major rebound.


sp'60min


Summary

So..we're set to open a little high, and baring a break <1777, the bears should be very concerned about the 'same old problem'.

With talk of negative interest rates in the EU, and the likelihood of the Fed sitting back whilst the equity bubble grows into spring 2014....the bulls remain in control.
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*I am on the sidelines, and seeking to pick up an SLV-short block again.

I remain very content to leave the indexes well alone..even though I am closely tracking them.
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Video update from Mr Permabull....who remains on his TSLA-short train...



I remain surprised to see his target of $60..but it would be my secondary target. First though, I think we'll see a bounce off the 200 day MA in the 110/100 zone.