Friday 3 January 2014

10am update - morning gains

US equities look set to end the week with some gains. Any weekly close in the sp'1830s will be enough to keep the broader up trend on track. Metals are trying to build gains, Gold +$7. Oil is weak though, -0.4%.


sp'60min


TWTR, daily


Summary

*looks like the bull maniacs are looking to close TWTR in the $70s this week.
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So..we have a market that wants to rally into mid January...probably to the 1860/80 zone. With the QE starting again next week, bears face the usual problem.

Notable mover: UAL +2.3%.. probably on falling oil prices.


10.03am... weakness in Ford, and the coal miners. Apart from that though, market looks reasonably strong.

*clown finance TV highlighting that the Fed officials are due to start speaking soon, no doubt..Mr Market will be looking to ramp on any comments.


10.33am.. Oil really is weak...-1.0%...and will make for a pretty sharp weekly fall to start the year.

Rest of the market is holding together though..kinda.