Wednesday, 23 July 2014

Pre-Market Brief

Good morning. Futures are a little higher, sp +2pts , we're set to open at 1985. Precious metals are similarly higher, Gold +$2. Equity bulls have fair opportunity of the sp'1990s today..or tomorrow, the QE will no doubt help.



So.. we're set to open a touch higher, on a day when the market will see another $2bn or so of QE thrown at it.

Price structure on the hourly chart is a baby bull flag, and it might take another 2-4 hours to complete. Regardless, I'd expect a net daily gain.

Mr Permabull returns... from the basement.


Good wishes for Wednesday trading.