Tuesday 15 July 2014

Pre-Market Brief

Good morning. Futures are fractionally higher, sp +1pt, we're set to open at 1978. Metals are seeing a minor bounce, Gold +$3. Mr Market will be focused on what Yellen has to say, not only today, but also tomorrow.


sp'daily5


Summary

*retail sales due at 8.30am
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Well, the morning will be consumed with what Yellen says to the US senators.

As noted yesterday afternoon, price structure - seen better on the hourly cycle, is a baby bull flag, and is offering the 1985/90 zone today....bears beware!
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Good wishes for Tuesday trading

8.31am.. retail sales +0.2%... kinda disappointing (expectations 0.6%), but hey, its not negative,right?

Indexes clawing higher, sp +3pts... that takes us to 1980...  just 5pts shy of a new high.

sp'1990/2000s are coming this month.