Wednesday 22 April 2015

Pre-Market Brief

Good morning. Futures are a little lower, sp -4pts, we're set to open at 2093. Metals are a touch weak, Gold -$2. Oil is fractionally lower ahead of the latest EIA report, -0.1%.


sp'daily5


Summary

Opening minor weakness, but overall, its almost certainly just another little tease to the bears.

Eyes on Oil today... with the EIA report at 10.30am. It'd seem - via yesterdays API report, that inventories will come in somewhere in the 3-6 million range... which should pressure Oil a little.

However, Oil still looks set for the $60s.. which is a clear 10% higher... and that will help the broader market in May.

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Doomer chat... Hunter with Ackerman



It is interesting that Acker' is seeking the DXY 120s... as I am. Although I am seeking a retrace first to 93/92.. perhaps even a little lower this summer, before a hyper-ramp.. as the Euro implodes later in the year.

However, I completely disagree that any int' rate rise will kill the economy/system. Far from it... higher rates will help inspire confidence (even in the Fed itself). If you think negative rates are a good thing, then you really have fallen in love with Fed policy, and there is no hope for you!

*Watch the USD... just need a break under 97.50... to break (sideways) out of the uptrend.. that stretches back to last May.

In early trading, DXY -0.2%... @ 97.83.
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Good wishes for Wednesday trading!
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8.48am... notable early movers... all on earnings...

BA -1.4%
KO, MCD, both higher by around 2.1%

... that is helping the Dow, which is now set to open +60pts or so.

sp'500... now set for -1pt @ 2096.