Pre-Market Brief

Good morning. Futures are moderately higher, sp +5pts, we're set to open at 1877 - a mere 6pts shy of breaking a new historic high. Metals are sharply higher, Gold +$13, Silver +1.2%. Today is quad-opex, so expect some price swings, especially in the latter part of the day.


sp'60min

Summary

If we open >1875 - which now seems likely, then the H/S scenario gets trashed, and all those touting the sp'1900s for April can probably start celebrating.
-

The equity bears have two things in their favour today. First, no sig' QE, and second, the underlying issue of 'sell into the weekend'.

Yet, the break above 1875 is significant. It looks like the week is going to end with the weekly cycles flipping back to outright bullish. Urghh.