Thursday, 3 March 2016

Pre-Market Brief

Good morning. US equity futures are a little lower, sp -2pts, we're set to open at 1984. USD is -0.2% in the DXY 97.90s. Metals remain strong, Gold +$4, with Silver +0.1%. Oil is cooling, -0.6% in the $34s.



The sp'2K threshold looks out of range today, but it sure will be viable (if not probable) tomorrow.

There will doubtless be some powerful resistance around the 2K threshold, but given the fact the bulls upside window will likely remain open until the FOMC of March 16th, that should be enough time to get to 2020/40.

*I'm still looking for a retrace in Gold and the related mining stocks. For now though.... they appear very strong.

Macro chatter, Mr Long with Mr Summers

This was actually rather good, and I do suggest you listen when you have the time!

Overnight action

Japan: +1.3% @ 16960
China: choppy, +0.3% @ 2859
Germany: currently -0.3% @ 9743

Have a good Thursday