Tuesday 19 August 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +3pts, we're set to open at 1974. Metals are trying to climb, Gold +$2, whilst Oil is +0.3%. Underlying price momentum continues to swing back in favour of the bulls.. with the sp'2000s due.


sp'daily5


Summary

*awaiting CPI data
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Certainly, the hourly cycle is offering an initial sign of a rollover, but we'll surely just put in another higher low... probably in the 1965/60 zone, whether today, tomorrow.. or later in the week.

It really makes no difference.

Most seem quite resigned to the sp'1980/90s..., and eventually, given a few weeks, the 2000s.
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*I'd consider going long in the 1965/60 zone..unless I see that... I'm content to sit on the sidelines.