Tuesday 10 June 2014

Pre-Market Brief

Good morning. Futures are a little lower, sp -4pts, we're set to open at 1947. Metals are higher, Gold +$7. Oil is set to build on strong Monday gains, +0.4%. Regardless of the opening hour or so, with sig' QE-pomo of around $3bn, equity bulls still have everything in their favour.


sp'60min


Summary

So...we need an early fall of around 10/12pts to retrace to the small gap zone, which is where the lower bollinger on the hourly cycle will be.

It looks possible, but from there...up. The QE is pretty significant today, and it should be able to negate whatever declines we have in late morning.
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*I still have eyes on WFM, although it doesn't look like it will even get to my low $40s initial target.
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9.34am.. Stockcharts is offline..so..err..today could be devoid of charts...