Monday, 31 March 2014

Pre-Market Brief

Good morning. Futures are moderately higher, sp +8pts, we're set to open around 1865 - close to the Friday high. Metals are slightly higher, Gold +$2, whilst the USD is a touch weak, -0.1%. Mr Market has a large number of end month/quarter issues to deal with today.



*awaiting Chicago PMI - due 9.45am.

So..for the seventh consecutive day, we're set to open higher, and again...the issue do we close..rather than open.

Can the bull maniacs finally break higher, or can the bears can attain a close in the low 1840s..and then punch <1830 later this week?

The weekly charts suggest...yes. Monthly charts (especially Dow) are vulnerable to rolling over into April.

Video update from Mr Permabull

Make of that...what you will.

*I remain short, with 'last line in the sand' short-stops around sp'1884/85.

Any break over that, and the 1925/50 zone would appear likely. Oscar is seeking 1975/2000 in the current multi-month wave.

9.09am.. sp +12pts..we're set to open 1869/70.  A mere 0.6% from breaking a new high.

Again, we're on the edge of a major breakout..but then..this is the 7th attempt.

9.38am... standing by for PMI....

A lousy start to the week for those in bear land..but haven't the last 7 mornings pretty much been the same?

9.45pm.. PMI 55.9... . that is a very clear miss....