Good morning... and welcome to May. Futures are moderately higher, sp +7pts, we're set to open at 2092. Metals are weak, Gold -$4. With the USD +0.2% in the DXY 94.70s, Oil is cooling, -0.3%.
A new month begins.. and we're set to open higher, although all indexes are set for sig' net weekly declines.
For the equity bulls, a weekly close back above the 50dma of sp'2090 would be useful.
*I realise some will be seeking major sig' equity downside this month, but the USD still looks due to cool to the DXY 93/92s.. and that will help any equity down cycles.
For now... it looks like most indexes will be continue climbing into June... not least as energy stocks power upward... as Oil will doubtless break into the $60s.
notable weakness: LNKD, -20% @ $200, as earnings miss
For the true technical maniacs out there, something to watch for at the open... upper/lower bollinger bands adjusting on the bigger weekly/monthly cycles, along with the MACD cycles.
Have a good Friday
8.36am... Metals weakening, Gold -$9.. with silver -1.0% Oil is similarly on the slide, -0.7%