Monday, 7 March 2016

Pre-Market Brief

US equity futures are moderately lower,  sp -10pts, we're set to open at 1989. USD is +0.3% in the DXY 95.50s. Metals remain strong, Gold +$10, with Silver +1.8%. Oil is +0.4% in the $36s.



By the the close of today, rising support will be 1990, so.. the bulls need a close above that.

Another push to the 200dma looks likely... and that will be around 2022 across this week.

Regardless of today though, what next matters is whether the ECB/Draghi can placate the market enough this Thursday.

Clearly, having ramped from sp'1810 to 2009, the market will be looking for an excuse for at least a minor retrace.

early movers...

CNX +10%, unsustainable recent gains
SDRL -9%, the wild action continues
GDX +2.2%... as the metals simply still won't retrace

Overnight action

Japan: -0.6% @ 16911
China: latter day recovery, +0.8% @ 2897
Germany: currently -0.9% @ 9738