Wednesday, 2 December 2015

10am update - opening chop

US equities open with very minor chop, around the sp'2100 threshold. A move to 2115/20 zone looks very probable, more viable early Thursday.. than late today. With the USD +0.4% in the DXY 100.10s, commodities are under pressure. Gold -$10, whilst Oil is -1.6%, ahead of the EIA report.




So, ADP jobs data came in fine.

Next up, the EIA oil report (10.30am)

Equity bulls could do with a whipsaw higher in Oil...  back into the $42/43s.

notable strength...

QCOM, daily

There is some kind of China deal news. The previous two days of trading were certainly suggestive of a move higher, with the MACD cycle turning positive.

time to shop... back soon.

10.31am.. Oil inventory surplus.. 1.8 million barrels.... not great.... but neither apocalyptic.

Oil is holding -1.6%.. but with bad news out of the way.. the threat is now of a whipsaw higher.