Friday, 6 November 2015

Pre-Market Brief

Good morning. US equity futures are fractionally lower (ahead of the jobs data), sp -1pt, we're set to open at 2098. USD is +0.2% in the DXY 98.10s. Gold +$5. Oil u/c.



Little to add.. ahead of the jobs data.

Equity bears must see a weekly close <2100...any net daily gain today...and a retrace could be delayed until new historic highs.

notable early mover....

DIS, -0.4% in the $112s.... earnings were fine, although in theory, like the broader market, the stock is cyclically due a retrace

Doomer chat with Hunter


Futures now with the Schiff


Overnight Asia action

Japan: +0.8% @ 19265
China: +1.9% @ 3590..  a rather bullish end to a bullish week.

Have a good Friday

.. awaiting the jobs data...

8.31am.. Net job gains:  271k,  headline rate: 5.0%. 

Equities snap sharply lower.

USD is SCREAMING upward.. +1.2% in the DXY 99s.

GOLD loses the $1100 threshold, -$10

ohoh... this is serious stuff!

8.35am.. Equities are pretty unstable... sp' swings from -7pts to +4pts.

Underlying issue remains.... USD is strong... now a mere 1% from ultimate breakout.

Metals remain dire.. Gold -$8

.... sp -4pts.

8.39am.. Gold -$12..  Silver -1.1%...   miners.. GDX -2.7%..

Key thresholds breaking.... Gold bugs look toast into year end.... as expected.

notable strength: financials... BAC +2.6%.. on higher rate hopes.

8.43am.. sp -7pts... 2092.... with rising support @ 2080.

Clearly, its not going to be a sig' gap lower... and bears are going to find it tough to break into the 2070s..

Anyway... again, the real issue here is the USD... and the related implications for commodities, notably Oil and Gold.... and their related drillers/miner stocks.

8.48am... USD +1.3% in the DXY 99.20s...

Metals imploding.... Gold -$14.. $1090/89 or so. New multi-year lows <1072 are coming, but then.... you knew that... right?

sp' holding -7pts.

8.57am... things slowly unravelling. sp -10pts... 2089.

Gold -$16.. in the $1080s...  miners, GDX -3.3%

9.00am... Oil following the metals... -1.6%... pressured by KING dollar.

BAC powering +3.2%

9.15am... USD +1.4% in the DXY 99.30s... incredible.. but not surprising.

Gold -$17...    new lows <1072 imminent.

What are the gold bugs going to blame for this? JPM, the Fed... or would they even turn on the Schiff?

Equities remain choppy.... sp -5pts... 2094.... the gains in the financials are helping keep things together.