Friday 17 January 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +3pts, we're set to open at 1848. Metals and Oil are similarly, a little higher. Today is opex, so..some chop is likely. Equity bulls should be content with any weekly close in the 1840s.


sp'daily5


Summary

Today is opex..so expect some chop. We've some QE-pomo,  so...what little selling there is..should be more than offset.

A weekly close in the 1850s would confirm yet another failed attempt by the bears to break this market lower.
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Video update from Mr Carboni



With the bull flags holding..naturally he is bullish into next week. I'm almost a little surprised he hasn't called for the sp'1900s yet.
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9.06am.. market slipping a little... sp -3pts...

Notable early weakness : INTC, -4.4% on slightly poor earnings.