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2024
October 7th, 2015 at 5:52 am
Good morning!
We've had a great rally since Asia opened and Hong Kong blasted 3% higher, led by energy and commodity companies. We didn't take into account that the 5% rally in oil came AFTER they closed yesterday – so big catch-up there and, of course, Shanghai is still closed (back tomorrow).
Also, Samsung had a huge number based on what, exactly, it's hard to say. Seems like chip sales and screen sales were good business but also massive currency devaluation helped a lot. Still, we're the only people who look under the hood so massive tech rally in Asia for the moment.
Obviously, the most important chart of the day is:
If DAX holds 10,000 into the close, we have to give all the markets the benefit of the doubt.
S&P 2,000 is still almost 1% away (in addition to the up 0.66% we have this morning):
That's another big market booster, RDS/A and others have been pumping up their oil forecasts and pushing that Russia/OPEC alliance rumor for all it's worth (and it's worth $50, so far!):
And, of course – please completely ignore these:
In short, after selling off from yesterday's low-volume, pre-market spike up, we're having another low-volume, pre-market spike up this morning.