Thursday, 7 April 2016

Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -11pts, we're set to open at 2055. USD is broadly flat in the DXY 94.40s. Metals are catching a fear bid, Gold +$12, with Silver +1.0. Oil is -0.2% in the $37s,



*I have partially added the H/S scenario that some of you are seeking. In any case, the downside target would be pretty close to what I was originally looking for.

So, we're set for opening declines, and now its a case of whether its just another tease before a scary break >2075, or if we fall to somewhere in the 2020/00 zone.

A 50/60pt drop between now and the Friday close might seem a lot, but we've seen it occur a hundred or so times across the past few years.

Update from Mr C.

The issue of increasing volatility/swings is indeed likely the case.

If it is a H/S formation...


.. the target would be the 1600/1500s. Specifically, by definition (2116-1810: 306)    1810-306:     1504

.. and 1504 from yesterday's closing level of 2066...   is -27.2%.

*sp'1504 would equate to the Dow 13000/12500 zone*

Its something to reflect upon.. at least for a few minutes.

Have a good Thursday