Thursday 12 March 2015

Pre-Market Brief

Good morning. Futures are moderately higher, sp +7pts, we're set to open at 2047 A break above the first soft threshold of 2050 will open up a re-take challlenge of the 50dma  @ 2060. Metals are bouncing, Gold +$3... as the USD weakens by -0.7%


sp'60min


Summary

*awaiting jobs and retail data.
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Looks like we have chance of a key turn this morning... with the sp'2050s.. that should lead to a daily close above the 50dma.. more likely tomorrow though.

A break >2060 will open up 2070/80s by late tomorrow or Monday... ahead of next Wednesday's FOMC.

The real issue is whether we'll then put in a lower high (<2119)... or keep on pushing.

Right now.... difficult to say... but first.... we look to at least see 2070/80s.
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Have a good Thursday


8.31am retail sales -0.6%..... a rather big miss.

weekly jobless claims 289k... pretty good.. for that number is.

Equity indexes climb a little more.. sp +8pts... 2048.


8.43am sp +9pts... we're borderline breaking the 2050 resistance..... bulls are making a break for it!

9.07am INTC lowers guidance.... partly due to currency issues... -3% or so.... stock has seen a fair few swings lately! Broadly though... its unquestionably good company.

yours... via INTC cpu.
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9.35am... rally underway....  bears had so many opportunities to close out...

Now its a case of whether we close over the 50dma (2060)... today.. or tomorrow.