Good morning. Equity futures are a little higher, sp +5pts, we're set to open at a new cycle high of 2094. USD is cooling, -0.3% in the DXY 96.90s. Metals are trying to rebound, Gold +$2. Oil +1.0% in the $46s.
Unless we see a sig' reversal later today.... the market is set for the fifth consecutive net weekly gain. It would seem the only issue is whether we close a little below... or above the sp'2100 threshold today
More critically, the market will see a monthly close above the 10MA.. and by a rather decisive 2% or so.
The equity bears failed to hold key resistance in October, and there is now little reason to believe it won't be a case of 'broad gains' all the way into late spring 2016.
Over Asia action...
Japan: +0.8% @ 19083... resilient.. with an Oct' close in the 19000s
China: -0.1% @ 3382... unable to hold the 3400s, but still... a net monthly gain of 10.8%
Have a good Friday.