Thursday, 19 November 2015

Pre-Market Brief

Good morning. US equity futures are a little higher, sp +4pts, we're set to open at 2087. The USD is cooling, -0.3% in the DXY 99.30s. Metals are seeing a bounce, Gold +$3. Oil remains weak, -1.4% in the $41s.


WTIC, weekly2


*The third consecutive red candle for Oil.  The $40 threshold remains key for Oil, if lost, it'll certainly put some downward pressure on the main market.

For the wave counters out there, if the move from 1871 to 2116 is wave'1... 245pts... do we just add 245pts to the Monday low of 2019 as a min' upside target for wave'3?

If so... that would suggest (at minimum) sp'2264.... in about 6-9 weeks time.

Overnight Asia action

Japan: +1.1%, solid gains, the big 20K threshold is imminent
China: +1.4% @ 3617..... morning chop, but then surging into the close.

Have a good Thursday