Monday, 18 April 2016

Pre-Market Brief

US equity futures are moderately weak, sp -7pts we're set to open at 2073. USD is -0.1% in the DXY 94.60s. Metals are mixed, Gold +$4, whilst Silver -0.1%. Oil is -3.9% in the $40s, after no Doha agreement.



*overnight action, saw a low equiv' to sp -16pts... 2064, and indeed, equity bears should already be somewhat disappointed.

So.. we're set to open lower, but equities are holding up very well relative to the major drop in Oil.

Targets?   Clearly, the gap zone of 2065/61 looks set to be filled today. A close in the 2050s looks difficult though.

Far more important is the most recent key low of 2033. Until that is broken, equity bears should be concerned another higher high is still viable... if not probable.

early movers...

CHK -6%
FCX -4.5%
RIG -4.5%, SDRL -7%

*pre-market VIX +6.5% in the 14.50s

Since last week I've noticed I'm getting pre-market VIX quotes. Not sure if other trading screens were offering that... but its new to me.

Overnight action

Japan: -3.4% @ 16275
China: -1.4% @ 3033
Germany: currently -0.1% @ 10036

Have a good Monday... if you can.