sp'60min
Summary
A little chop seems likely this morning, but with underlying upward pressure.
We've a fair bit of data/events today.. and on balance, the sp'2110s look due late today/early tomorrow.
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Update from Mr C.
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Doomer chat, Hunter with Denniger
As ever, make of that, what you will.
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Overnight Asia action
Japan: minor weak chop, -0.4%
China: minor weak chop, but then battling strongly higher into the close, +2.3% @ 3536. First target remains the monthly 10MA in the upper 3700s. A Dec/Jan' close in the 3800s would bode for 6K by end 2016.
The implications for other world markets would be very important.
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Have a good Wednesday
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8.15am ADP jobs: 217k, a rather bullish number, and is highly suggestive the Friday monthly jobs data will be 'fine'. It is notable that the Oct' data was revised higher.
Equities remain broadly flat.
Metals unraveling though, Gold -$6 @ $1062
Oil is breaking recent lows, -1.3%. Now its a case of how the market copes with the EIA report.. and then OPEC meeting this Friday. I'm guessing Oil whipsaws UP.