day trading aug 13 pre-market

Morning Traders
A relatively flat day on overseas markets on friday , with European markets closing marginally lower and US markets closing marginally higher after a last hour fight back pushed the indexes into positive territory after spending the earlier part of the day modestly in the red. Volume was very light and was actually the weakest daily turnover for several weeks. Many market participants obviously still enjoying the summer holidays or are either at the Olympics or glued to their TVs. A number of market commentators are suggesting nothing major will happen till September when the crew return.
Data out of China showing a 16% decline in shipments to Europe from a year ago is giving investors cause for concern and could be the reason behind falls in the early part of the session in the cyclic sectors of energy , materials and financials on Friday whilst the defensive sectors of telecoms and health rose. By end of day the market had clawed back some of the falls.

DOW + 42.76 points (+ 0.32 % )
S&P 500 + 3.07 points (+ 0.22 % )
NASDAQ + 2.22 points ( +0.07 % )
GDX (gold miners index) ( + 0.65 % )
FTSE -4.4 points ( - 0.08 % )
DAX -20.43 ( - 0.29 % )
Commodities:-
WTI -0.13 % $93.38
BRENT -0.24 % $112.95
Copper spot -0.53 % $3.41
Gold spot + 0.15 % $1621.50
Silver -0.07 % $28.05

Currency:-
USD index - 0.10 % 82.55
US Bonds 30 yr + 0.41 %


LOCAL MARKET :-
The SPI 200 showing a reading of +17 points is suggesting a mildly positive open for our market today which may recoup part of our 27 point loss on Friday . The sector performance in the US may give a clue to where our market is headed today. ( see above) Though is hard to pick a direction from a flat market.
Bond prices in the US seemed to find support at a previous support level and bounced a tad and the USD continued the sideway shuffle.
Some market commentators are saying that the US market rally is getting a little “long in the tooth” and as the S&P 500 and DOW are nearing a resistance zone I can see their point. Time to be vigilant , having said that when can you ever not be vigilant as the market can turn nasty very quickly without notice.

Some of the above comments are my own opinion and as my only financial qualification is an Associate Diploma in Mug Punting from the School of Hard Knocks, I would suggest you dyor before commiting your hard earned. No correspondence will be entered into and all complaints to be directed to endless for hiring me.

Good luck , happy punting and above all be careful out there.