Friday, 30 January 2015

Pre-Market Brief

Good morning. Futures are somewhat lower (ahead of GDP data), sp -13pts, we're set to open at 2008. Metals are seeing a minor bounce, Gold +$5. Energy is mixed, Nat' gas -2.4%, whilst Oil is +0.8%.



*awaiting key GDP data

The last trading day of the year.... whether we close above sp'2000 is very important... it will determine whether we get a closing monthly MACD bearish cross.. something not seen in a full THREE years.

more on that later though...
Notable gains, AMZN +11% on earnings. At $2 EPS a year... the PE is only 150 or so now.  What a bargain!

Visa (V), +4%, earnings... with a 4 for 1 stock split. Everyone loves a stock split, right?

8.31am Q4 GDP: 2.6% growth, but that is a fair bit below expectations.

Equities a little weaker, sp -14pts @ 2007 (briefly -20pts)

8.52am.. Market remains weak, sp -17pts,  2004.

next up... PMI at 9.45am

9.42am.. sp -6pts... and far better than most expected.... won't take much to turn market positive.

9.45am.. PMI 59.4... pretty damn good... and negates worries about GDP...

Hyper-spike floor hourly candle on the indexes... bears beware!