Tuesday 24 March 2015

Pre-Market Brief

Good morning. Futures are a little higher, sp +3pts, we're set to open at 2107. USD is again somewhat weak, -0.4% in the 96.60s. Metals are a little higher, Gold +$2. Oil is battling higher, +0.9%... but looks vulnerable with the next inventories due tomorrow.


sp'60min


Summary

*awaiting CPI data
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So... now its a case of whether we break new highs...  >sp'2119, or remain stuck... and roll lower.

Best guess remains... broadly higher. Seasonally speaking, equity bears have very little realistic opportunity until late April/early May.
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Notable early gains, CHK +3.5%, weekly


...after its known that Icahn has picked up another 7 million shares... taking his holding to around 70 million.
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Have a good Tuesday