Tuesday 7 April 2015

Pre-Market Brief

Good morning. Futures are a little higher, sp +2pts, we're set to open at 2082. Metals are on the slide, Gold -$7. Oil is cooling, -0.6%. The USD is strongly higher, +0.9% in the 97.70s.


sp'60min


spdaily5


Summary

So, we're set to open just a little higher.

It is clearly extremely important for the bears to contain the market under the March 30th high of 2088.

We have a long day ahead.. frankly, bears should be desperate for a daily close back under the 50dma of sp'2073.

*All the smaller equity/VIX cycles should favour the bears today, I'd be surprised if we don't continue lower from here.... not least after yesterday's weak closing hour.

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Update from Mr C.


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Have a good Tuesday