Thursday, 13 July 2017

Pre-Market Brief

Good morning. US equity futures are fractionally higher, sp +1pt, we're set to open at 2444. USD is -0.1% at DXY 95.70. The precious metals are fractionally mixed, Gold +$1, with Silver -0.1%. WTIC is -0.2% in the $45s.



*well, this is kinda unusual.. its like the old days.

As ever, updates each hour. I take requests, if there is something you'd like me to highlight, just email, or message me via Disqus.

Cyclically - short term ,we're on the very high side. There was an initial rollover yesterday afternoon. At the current rate, a bearish MACD cross is just about within range by the close, but far more viable early Friday.

A very basic downside target for today will be the upper end of yesterday's gap zone... sp'2435, a mere 8pts lower. Things only get interesting with a break under 2420. Even then, we have two key spike lows of 2407/05. Until those are taken out... can't be overly bearish, not least as yesterday saw new historic highs for the dow and trans.

Keep in mind, we have another dose of Yellen today, which will last at least 2-3 hours. Clown finance TV will likely not give blanket coverage.

early movers

ABX -0.2%.. as the metals sure don't look great
CHK -0.6%, with oil
DAL -1.3%... earnings miss.
KMI -0.6%.. with oil
M +1.5%.. but broadly weak
MU +0.8%... following AMD and NVDA
NVDA +0.5% in the $163s.... a viable double top if 167/168
SNAP +2.5%... but broadly utterly broken
STX -4%... downgraded
TSLA +0.4% at $331
TVIX -0.5% , with VIX -0.3% at 10.27


update from a typically loud Mr C.


overnight markets

Its moderately mixed out there...

Japan: u/c at 20099
China: +0.6% at 3218
Germany: currently +0.1% at 12632
UK: currently -0.1% at 7410

Have a good Thursday