Wednesday 31 July 2013

Pre-Market Brief

Good morning, futures are a touch higher, sp+2pts, we're set to open at 1687. Today is probably the best chance for the start of a sub'5 wave to the upside..breaking into the sp'1700s. Metals are mixed in early trading, Oil looks set to be moderately higher.


sp'60min3 - broad overview



Summary

 *ADP jobs:  200k, vs 179exp.

GDP..1.7%, vs 1.1%.... and thats on the new style of calculation
Chicago PMI
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On top of the data..we have the FOMC of course, but thats not until 2pm.
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I am on the sidelines, seeking an index-short, but probably not today, I want an entry preferably in the 1715/25 zone.


UPDATE 9.39am.. sp'1692...we're all set for the 1700s today.

If we somehow break to the 1710s, thats gong to be awfully tempting to short.