Monday 11 May 2015

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 2114. Metals are a little higher, Gold +$3, with Silver +0.2%. With the USD +0.4% in the DXY 95s, Oil is a touch higher, +0.1%.


sp'daily5


Summary

Well, we're already into mid May, and markets remain broadly bullish.

With the PBOC (people's bank of China) cutting rates for the third time this year, -25bps to 5.1%, Asia markets are getting an extra kick higher.

It would seem the Shanghai comp' recently floored in the 4100s, and is now on a straight run to challenge the giant 5K threshold. Considering the price action of the past year, 5K by late June is actually viable, although clearly more likely in July/August.
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As for the US market, sp'2140s remain a valid target in the immediate term.
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Doom chat, Hunter with Williams



Dare I suggest that Williams remains stuck on the same mis-guided crazy train as he has done since before the 2008 crash. Its the same old 'dollar collapse, hyperinflation, Gold/Silver is insurance against inflation' mantra.

As ever... make of that... what you will.
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Have a good week