Friday, 30 May 2014

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1918. Metals are ending the week poorly, Gold -$3. Equity bulls look set for a positive end to May, with further upside into the sp'1925/30 zone, early next week.



Without getting wrapped up in the minor noise, it'd seem the bulls remain in full control.

*we do have some semi-key econ-data today, notably, the Chicago PMI (9.45am). I suppose if those come in below expectations, there is a chance of a minor down wave..but really. underlying pressure remains strongly positive.

The next thing the market will need to deal with is the ECB next Thursday. I do NOT see an announcement of QE, but rates will probably be reduced.

For now though.. bulls have another 3 or 4 days of viable upside.

Video update from Oscar

Oscar has been flip-flopping more than a US politician lately, and now that we're in the 1920s...he is back to bullish.

Well, its the end of the month...and without was another tough one for the bears...especially those who were short the R2K/Nasdaq.