Monday, 25 April 2016

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -5pts, we're set to open at 2086. USD is -0.4% in the DXY 94.70s. Metals are slightly mixed, Gold +$1, whilst Silver -0.1%. Oil is -1.0% in the $43s.



A pretty important week is set to begin.

Equity bears need (at minimum), to hold the market from breaking above the recent high of sp'2111

Preferably.. a weekly/monthly close in the 2060s... if not the 2050/40s.

Price action in the 2030s or lower looks out of range in the current cycle, until around mid May.

early movers...

CHK -1.2%
FCX -1.4%
DB -2.9% in the $18.30s.

*pre-market VIX is showing +8% in the 14.30s.

Overnight action

Japan: moderate weakness across the day, -0.8% @ 17439
China: -0.4% @ 2946. A monthly close <3K looks probable.
Germany: currently -0.8% @ 10289... an April close under the 10K threshold would be especially useful to the bears.

.. and a rather bizarre end to ep'1 of season'6 of Game of Thrones.

Have a good Monday