Wednesday 7 January 2015

Pre-Market Brief

Good morning. Futures are borderline significantly higher, sp +17pts, we're set to open at 2019. Metals are cooling, Gold -$10. Oil is bouncing, +1.7%.


sp'60min


sp'daily5



Summary

We're set to break back above the important hourly 10MA at the open, and that does offer an initial confirmation that sp'1992 was a key spike floor.

First key target for the bull maniacs though will be to re-take the 50dma, but that is a fair way higher around 2040... clearly.... some days away.
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Update from a resolutely bullish Mr C.

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ADP jobs: 241k, slightly above expectations, and that is helping Mr Market look ahead to the big Friday monthly jobs data.

Have a good Wednesday.