Thursday 18 June 2015

Pre-Market Brief

Good morning. Futures are moderately higher, sp +4pts, we're set to open at 2104. The USD remains in cooling mode, -0.6% @ DXY 93.70s, the 92/90 zone remains on track. Metals are naturally being pressured upward, Gold +$9, with Silver +0.7%


sp'60min


Gold, with USD, daily'2


Summary

*some of the Gold bugs will be getting overly excited at yet another attempt to break the $1200 threshold. Yet it should be clear to at least some of them, that until Gold can break and hold above $1230, Gold remains broadly subdued.

Considering the weakness in the USD, the metals are performing particularly badly. The $1000 threshold remains a natural downside target.. if DXY >101s
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As for equities, the bull maniacs really need a daily close >sp'2105... where there are multiple aspects of resistance.

*I will have eyes on INTC... I'd feel a lot more comfortable though shorting it from $32.25/50 zone... until then...  I'm largely content to watch.
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Something rather fun I noticed earlier...



ps. watch it ALL... for a closing Bieber bonus.
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Overnight action: China, -3.7% @ 4785... the day to day swings continue... and are increasingly indicative that a mid term top is being built. A full retrace to the 3400s would really shock the retail amateurs.. and it remains a very viable outcome later this summer.

Have a good Thursday
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8.31am.. CPI +0.4% m/m,    1.7% y/y.    

jobs.. 267k... but few seem to care about that data point these days.
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sp +5pts.. 2105.

USD -0.6%..... helping the metals... Gold +$12