Friday 26 July 2013

Pre-Market Brief

Good morning. Futures have swung lower overnight, sp -7pts, we're set to open around 1683. Precious metals are weak, Gold -$9, with Oil -1.4%, despite a weak USD, -0.3%.


sp'60min3 - broad outlook/count


Summary

So, we're set to open lower, although so far, we're not going to break yesterday mornings lows of 1680.

Best bears case is a break into the 1670s, but I can't see any lower than that.

Frankly, considering the last 4 weeks, the bulls should be content with any close in the 1690s.

*the only econ-data is consumer sent' @ 9.55am, perhaps the market will use that as an excuse to ramp off the opening drop?


Notable movers so far: EXPE, PCLN, lower by 23% and 3% respectively.
--