Wednesday, 18 December 2013

Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open around 1783. Metals are similarly a little higher, Gold +$3. The FOMC announcement is due at 2pm, and by the close of today, the direction for the rest of the year..should be clear.



Today is the last big trading day of the year, and I expect it to set up another wave higher.

The one thing the bears have on their side today, no significant QE, but there are huge truckloads of new money due tomorrow and Friday.

Video update from Oscar...


As I've been saying for some months...I do not see QE-taper ahead of the Christmas holiday..nor the Bernanke leaving.

Should be an exciting afternoon!

9.11am.. Notable mover, Ford (F), -4.5% in the upper 15s...and as I type, I'm not sure why the big drop.

9.38pm.. Ford breaks the 200 day MA...and the low 14s now look viable, on news its lowering its 2014 expectations.