Tuesday 14 April 2015

Pre-Market Brief

Good morning. Equity futures are flat, we're set to open at sp'2092. Metals are sharply lower, Gold -$13, with Silver -1.5%. Oil is moderately higher, +0.7%.


sp'daily5


GLD, weekly3


Summary

*awaiting PPI and retail sales data.
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Another batch of earnings already this morning... seemingly most are coming in moderately above expectations. Some, notably J&J are noting currency issues, but even they surpassed market targets.

notable strength: NFLX +1.4%... which has earnings at the Wed' close.

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Update from Oscar



I'm certainly with Oscar on a H/S formation for Gold. If correct, in theory it bodes for Gold to fall to the $1000 threshold within the next few months. Best downside case remains 900/875 zone by Sept/Oct, but that will be difficult... unless King Dollar rises to the DXY 120s.

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Have a good Tuesday