Good morning. Futures are fractionally lower, sp -1pt, we're set to open at 2017. Metals are starting a new month a touch lower, Gold -$2, with silver -0.6%. Notable strength in Nat' Gas, +3.5%, whilst Oil is +0.3%
Welcome to November... we're in the last sixth of the year... if you can believe it. Santa ain't too far off now.
Notable early strength, miner ETF - GDX +1.6%, but having fallen 19% in November, it could bounce 5% this week, and it would do nothing to the broader trend. Indeed, precious metals are essentially in free fall... and should continue to take the miners with them.
Doom chatter, Hunter with Pollock
As ever, make of that.... what you will.
Good wishes for the week ahead
9.04am... Indexes turning positive, sp +2pts... we're set to break a new historic high of 2020.
A fair few out there (hey Deflationland).. are seeking the 2040s.. before a key turn. I suppose we might hit 2040.. and then 1975/50 zone, but really. I can't see sub 1900s in the remainder of the year..... not with the JCB/BoJ out there.
Notable weakness, TWTR, -1.7%.. approacing first key support of $40/39
9.35am ... very minor chop.... VIX is +2.7%.... kinda interesting
Fractional new historic high in the sp'500