Wednesday, 16 March 2016

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -7pts, we're set to open at 2008. USD is +0.3% in the DXY 96.90s. Metals are weak, Gold -$4, with Silver -0.2%. Oil is +1.2% in the $36s, ahead of the latest EIA report.



So.. much like the past two days, we're set to open a little lower, and again, we look set for a renewed upside in the latter half of the day.

Considering its a fed day... the bulls must certainly have high possibility of the sp'2030/40s this afternoon. Whether they can hold such levels for long... that is another matter entirely.

I hold to the view that we're due to max out.. and begin a major new down wave across the spring and into early summer.

Update from Oscar

I have a great deal to say on this.. but I'll try to deal with that.. some time today.


Update from Riley


Overnight action

Japan: -0.8% in the 16900s
China: +0.2% @ 2870
Germany: currently u/c at 9936.... 10K remains massive resistance.

notable weakness: DB -6% in the $18s... as it warns it won't be profitable this year. Credit Suisse (CS) is -7% in the $14s... likely in sympathy.

Have a good day !