Pre-Market Brief

Good morning. Futures are fractionally higher, sp +1pt, we're set to open at 2082. The market remains firmly stuck under resistance of 2088/89. Metals are a little weak, Gold -$2. Oil is higher by 0.8%.


sp'daily5

Summary

So...  a broadly flat open is due... certainly nothing for the bears to get excited about.

Price action remains a choppy mess. Even if we do slip lower from here, we surely won't break <2039 by the Friday close.... in which case... no real clarity across the weekend.

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notable early weakness, AA -2.6% @ $13.30s... post earnings depression
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Update from Oscar


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Have a good Thursday


8.31am. Jobs data 281k.... 'reasonable' I guess you could say. Next up... Wholesale trade at 10am.


9am... INTC drops talks to buy ALTR.....  INTC stock flashes lower by -3% immediately to $30. ALTR implodes -12%

Indexes turning red... sp -3pts, so.. that is 2078

Asian markets continue to soar

Whilst the US market continues to see moderate day to day swings, there remains a powerful upward trend in the far east. China and Japan are already net higher this month by 6.6% and 3.0% respectively. The broader outlook remains hyper-bullish for another two years.


China, monthly

Japan, monthly

Summary

It is VERY notable to see the SSEC hit 4K today... with the Nikkei very close to the giant 20K threshold.

On any basis... Asian markets are really strong.. and show absolutely no sign of cooling.
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Looking ahead

Thursday will see the usual weekly jobs, along with Wholesale trade.
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Goodnight from London

Daily Index Cycle update

US equities closed a little higher, sp +5pts @ 2081 (intra high 2086). The two leaders - Trans/R2K, both settled higher by 0.7%. Near term outlook remains very mixed, whilst the market remains stuck between resistance of 2088/89 and the recent low of 2039.


sp'daily5

Nasdaq

Summary

Little to add

Just another choppy day in market land.. with the sp'500 stuck within the 2089/39 zone.

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a little more later...