Friday 12 February 2016

Pre-Market Brief

Good morning. US equity futures are significantly higher, sp +20pts, we're set to open at 1849. USD is seeing a moderate bounce, +0.3% in the DXY 95.80s. Metals are cooling, Gold -$8, with Silver -0.2%. Oil is +1.0% in the $27s.


sp'60min


Summary

There are multiple aspects of resistance in the 1850/70s... not least declining trend, which at the close of today will be 1872.

Equity bulls should be frankly content with any weekly close in the 1850/60s... and that should keep open the door for a brief foray into the 1900s before month end.

-
Overnight action

Japan: -4.8% @ 14952... lousy end to the week, but looks vulnerable to a rebound... if China bounce next week.

Germany: currently +1.7% @ 8902.
-

notable stock...

Boeing (BA)


Seen on the giant monthly cycle, this stock has already seen a 50% retrace of the gains from 2011. Ugly outlook...to the mid 70s.
--

*awaiting retail sales data.... and a few other things...


8.58am.. Retail sales, +0.2% m/m     reasonable.

sp +23pts... 1852.

Meanwhile.. DB says it will buy back some of its debt... stock is +9% in the $16s. Clearly... its all fine now, right?