Thursday 20 December 2012

Pre-Market Brief

Good morning. Futures are flat, we're set to open around sp'1435. The econ-data so far today is not spooking the market.

Q3 GDP revision'2: 3.1%
Jobless: 361k, slightly upward.
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sp'60min



sp'daily5


Summary

I think its now something of a race, to close the week flat. A flat weekly close would result in a second consecutive spiky candle on the weekly charts, which would be a pretty bearish outcome indeed!
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So, the bears need to see a cumulative fall of around 22pts, to close tomorrow @ sp'1413..or lower.
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Metals are weak again. Gold is -$11 @ GLD 160.5..so, there is around $25 to go before my 158 target.

Good wishes for Thursday trading.