Thursday 14 August 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +4pts, we're set to open around 1950.  A break of the 50 day MA @ 1955 looks likely this morning, with further upside into the 1960s.


sp'60min


sp'daily5


Summary

Price structure on the hourly chart is offering a baby bull flag, and right now, that looks set to be confirmed with an opening gap higher.

*I remain long, but will certainly be looking to exit today, and would intend to sit on the sidelines until next Mon/Tuesday.
--

Good wishes for Thursday trading
-

8.52am.. Notable early weakness, FCX -1.2%... not sure why, maybe its falling Copper prices.

sp' futures back to largely flat.  Regardless, we should still battle higher this morning.