Thursday, 12 May 2016

Pre-Market Brief

Good morning. US equity futures are moderately higher, sp +12pts, we're set to open at 2076. USD is +0.3% in the DXY 94.00s. Metals are under pressure, Gold -$10, with Silver -1.0%. Oil is +1.5% in the upper $46s.



Well... I'm pretty damn bemused at the gains we're set to start with.

Its going to be tough to attain a net daily decline, unless some of the big money really hit the sell button today. The fact oil is making a play for the $47s only adds to the problems.

Lets see how high the algo-bots can drive this to the typical turn of 11am.

Update from Mr C.

Oscar is sounding extremely bearish, and although he doesn't explicitly say it, he is clearly still seeing the broadly bullish price action in Gold as an indirect bearish warning for the US equity market.

Overnight action

Japan: recovering into the close, +0.4% @ 16646
China: early sig' declines, but settling u/c @ 2835
Germany: currently +0.5% @ 10022

Have a good Thursday

**Bonus video....

Just a short update from Mario at SMF...

Mario sure is quirky.. but he called the late Dec/Jan decline, and is seeking a 20% fall this summer/autumn.

8.51am.. sp +9pts.. .2073..... so.. we're cooling a little....

Still though... its annoying we ain't opening straight into the 2050s...