Monday 19 May 2014

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1875. Precious metals are higher, Gold +$8, with Silver +1.2%. Equity bulls need to at least hold the 1865/60 zone today, if not push for a daily close in the 1880s.


sp'daily5


Summary

Arguably, the best opportunity for the bulls this week is across today and tomorrow - not least since it is the only sig' QE-pomo there is.

A daily close in the mid 1880s looks a reasonable target, and I'd be surprised if we don't at least manage that.

Equity bears need to take out last Thursdays low of 1862, and I can't see that viable today, although I was certainly wrong last Wed/Thursday.
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*I remain long, via the R2K no less, and would most certainly prefer an exit into the coming 3 day holiday weekend.


9.36am.. opening reversal... black candle on the VIX

Equity bears...beware!

*I'm still kinda burnt out....I will probably be somewhat 'sporadic' this week... or maybe I just need to go shop for more chocolates (and wine?).