sp'60min
sp'monthly
Summary
Again its a case of early weakness, but there will be high chance of a latter day rally.. with a net daily gain... settling the month in the sp'2110s.. or even 2120s.
It is end month of course, and so expect some increasing price action this afternoon.
USD remains cooling, -0.4% in the DXY 94.70s... pretty incredible really. It does look that if the down cycle continues into June, we'll be pretty close to the secondary target zone of 90/89. From there... I think the trade becomes somewhat easier.... and that probably includes oil (short-side from 67/75).
*I was looking to go long Euro and/or long Oil this morning... however, the opening gains in both are something I am not going to chase.
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notable strength: TWTR +1.4%.. but its surely a dead cat bounce... still looks headed for 36/34 zone before a real chance of levelling out.
Good wishes for end April trading!
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9.45am Chicago PMI 52.3 vs. prev. 46.3
A much better level, but 52 is not exactly super bullish economy.
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*notable weakness, metals. Gold -$19... end month washout!