Thursday 13 November 2014

Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open at 2040. Metals are trying to bounce again, Gold +$4. Energy prices remain weak, Nat' gas -0.5%, whilst Oil is -0.7%.


sp'daily5


Summary

Little to add.

Barring new highs (although it sure won't take much)... market looks vulnerable to a retrace, not that I have any intention to get involved in indexes for remainder of the year.

Equity bears should be looking to the VIX, with 14s as the first sign.

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Early movers

SDRL -1.5%...with a long way down to go.
JCP -6.7%, post earnings.. which on first look were still lousy.
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Good wishes for Thursday trading!