Tuesday, 8 March 2016

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -9pts, we're set to open at 1992. USD is +0.1% in the DXY 97.10s. Gold continues to climb, +$7. WTIC Oil is +0.8% in the $38s.



Overnight action has been pretty weak.

Japan: -0.8% @ 16783
China: recovering into the close, +0.1% @ 2901
Germany: currently -0.3% @ 9751

So... we're close to breaking rising trend... and I realise some will now be top calling.

However, equity bears still face the ECB and FOMC. Both of those offer threat of another lurch higher... for one final wash out.

For the moment, I still see no hurry, not least as the daily/weekly cycles are going to require more than just a single day of downside to turn.

Have a good Tuesday