Monday, 4 April 2016

Pre-Market Brief

Good morning. US equity futures are a little higher, sp +3pts, we're set to open at 2075. USD is broadly flat in the DXY 94.60s. Metals are weak, Gold -$4. Oil is +0.8% in the $36s.



*awaiting factory orders data @ 10am

So... another week to begin, and we're set to open a little higher.

Clearly, market sentiment is now on the extremely high side, it would be truly bizarre if we don't at least get a retrace across the next week or two.

In the days ahead, it will be important to keep in mind the key Nov'2015 high across all the main indexes... not just the sp'500.

Dow 17977, sp'2116, NYSE comp' 10641, R2K' 1200 threshold, Trans' 8358.

Any daily closes above those levels will arguably negate what remains of the broader bearish outlook.

Update from a near term bullish Oscar


Overnight action

Japan: moderate chop, -0.2% @ 16123
China: latter day recovery, +0.2% @ 3009
Germany: currently +1.0% @ 9896

Have a good Monday

9.33am.. correction: CHINA.. closed... ty' sutluc.