Friday, 6 March 2015

Pre-Market Brief

Good morning. Futures are broadly flat, we're set to open at sp'2101. Metals are a touch weak, Gold -$2. Oil is flat... holding the key $50 threshold.

sp'daily3 - fib retrace


*jobs data:  295k net gains, headline jobless rate: 5.5%
Clearly, well above market expectations.

Unless market can quickly claw over sp'2110 or so... we'll surely slip back into the 2090s today.... and even have a chance at taking out the 2087 Wed' low.

As ever though...even a retrace to the 2060s is nothing for the bears to get excited about. Another wave higher to at least 2125/50 zone looks due by mid/late April.

Notable early strength: BAC, +2.2%

Have a good Friday, its almost the weekend!

8.33am.... good jobs news is 'bad news'.... indexes turning red.

Metals snapping sharply lower, Gold -$12... breaking a new short term low...

8.38am... Indexes remain a touch red... the real action is in metals... Gold -$14... which is dragging down the miners, GDX -1.9%

8.54am.. sp -6pts.... so that is 2095.... just 8pts shy of the Wed' low.

9.07am... The news keeps on coming...

Dow index change:   AAPL in.....  to replace  T.. at the March'18th close.

That is one way to help boost the Dow across the next few years, lol

9.26am... sp -12pts... 2089... 2pts to break the low...

Gold -$22... on its way to take out the key low of $1130....  Gold bugs feeling the wrath!