Posted by racerick on 13th of Nov 2014 at 06:01 am
Index futures have been up most the night with the ES hitting
new highs at 2043 around 1:30. Very little pull back off of that so
far.
Most other commodities, USD and interest rates have been pretty
quiet and in a fairly narrow range, with the exception of gold,
which dropped almost $12 back down to it's support at 1155ish. Made
for a nice entry and has bounced since, but having some trouble
with the central pivot so far at the 1163 level.
Oil looks vulnerable to more selling here, tried a weak bounce
off it's close at the LOD yesterday, but Brent Crude broke 80 and
has been weak all night, so not much bounce at all. Right now
there's less than a $3 spread between Brent and West Texas crude,
typically it's $5-6, so something is going to have to give here
soon. Probably a good arbitrage situation here.
Overnite Report
Posted by racerick on 13th of Nov 2014 at 06:01 am
Index futures have been up most the night with the ES hitting new highs at 2043 around 1:30. Very little pull back off of that so far.
Most other commodities, USD and interest rates have been pretty quiet and in a fairly narrow range, with the exception of gold, which dropped almost $12 back down to it's support at 1155ish. Made for a nice entry and has bounced since, but having some trouble with the central pivot so far at the 1163 level.
Oil looks vulnerable to more selling here, tried a weak bounce off it's close at the LOD yesterday, but Brent Crude broke 80 and has been weak all night, so not much bounce at all. Right now there's less than a $3 spread between Brent and West Texas crude, typically it's $5-6, so something is going to have to give here soon. Probably a good arbitrage situation here.
Thanks racerick
Posted by steve on 13th of Nov 2014 at 07:50 am
Thanks racerick