Monday 8 September 2014

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 2005. Metals are a little weak, Gold -$3. Oil/gas are mixed, +0.2 & -1.1% respectively. Equities look set to continue broadly higher for another 2-3 weeks.


sp'daily5


Summary

Little to add from the weekend post.

We're set to broadly continue higher. Best case for the bulls looks to be around sp'2050 in another 2-3 weeks. Certainly, I don't expect a straight run to the 2100s from here.

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Update from Mr C.



Maybe its just me, but Mr Permabull seems rather uncertain.  If you take all the indexes as a whole, I can't see how anyone can expect a major spike in volatility in the immediate term.
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Notable early movers: Ford -2.3%,  SDRL -1.6%... the latter stock is utterly busted, sub 30s now look viable in the early autumn.

Good wishes for the week ahead!