Tuesday, 10 May 2016

Pre-Market Brief

Good morning. US equity futures are moderately higher, sp +7pts, we're set to open at 2065. USD continues to claw upward, +0.2% in the DXY 94.30s. Metals are fractionally higher, Gold +$2, with Silver +0.3%. Oil is -0.1% in the $43s.




With an overnight threat of intervention in Japan, world markets built some gains, although other than Japan, the gains haven't exactly been sustained.

re: sp'60min:  break levels 2080.... which looks overly difficult.   <2039... very viable.. even by the close of today.

re: weekly'6: a notable third blue candle. A sustained break <2K should have occurred by mid June.

early movers...

VIX -2.9% in the 14.10s.

CHK +3.7%
FCX +2.0%
SDRL +0.5%....  dead cat bounces in the junk/trash stocks.

Overnight action

China: micro chop, settling effectively u/c @ 2832
Japan: +2.1% @ 16565
Germany; currently +0.5% @ 10031... battling for a daily close >10K.

Have a good Tuesday