Tuesday, 13 October 2015

Pre-Market Brief

Good morning. Equity futures are moderately lower, sp -7pts, we're set to open at 2010. USD is broadly flat in the DXY 94.80s. Metals are weak, Gold -$5.... whilst Oil is trading flat in the $47s.


sp'60min


USO'60min


Summary

The smaller 15/60min equity cycles are already on the low side... sustained action <sp'2000 looks out of range today.

More probable, morning weakness until 11am, and then a latter day rally...if somewhat choppy. Market is likely just waiting to rally on any earnings excuse.

early movers...

FCX -1.9%... miners remain seeing some strong swings.
TSLA -1.4%, continuing to have real problems
TWTR -1.5% in the $28s.. as the novelty of a new CEO is already wearing off

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Update from Oscar

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Overnight Asia action

Japan: -1.1% @ 18234
China, +0.2% @ 3293... struggling a little, but certainly not falling!
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Have a good Tuesday
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9.34am Eyes on Oil..  USO -0.9%