Wednesday, 30 March 2016

Pre-Market Brief

Good morning. US equity futures are moderately higher, sp +12pts, we're set to open at 2067. USD continues to cool, -0.3% in the DXY 94.80s. Metals are cooling from strong Tuesday gains, Gold -$7.  Oil is +1.0% in the $38s, ahead of the latest EIA report.



*awaiting ADP jobs data

So, the sp'2056 high is going to be broken at the open. Next resistance is the upper daily bollinger in the 2070/75 zone.

The late Dec'2015 high of 2081 is arguably the last tolerable level for equity bears. Any action above there would bode for broad upside into the summer... to new historic highs in at least the headline indexes.

For now, that still seems very unlikely.

There is the equally important issue of the monthly close. As things are, the majority of world equity markets are holding within a downward trend from last spring/summer. I'll detail that this weekend.

Update from Mr C

Hunter with the legendary Mr Black on financial fraud


Overnight action

Japan: broadly weak, -1.3% @ 16878
China: increasing strength, +2.8% @ 3000.
Germany: currently +1.7% @ 10055, next resistance is 10400/500s.

Have a good Wednesday

8.15am ADP jobs: 200k.

sp' holding gains of around 11pts... 2066.

*Fed official Evans set to appear on clown finance TV.