Morning Impact: 4/1/24
Equity Indices, Treasuries, FX, Metals, Energy, Ags, Softs and Crypto Futures
🌍 World Equity Indices Cash and US Index Futures
Asia passed a mixed session. China’s Shanghai Comp (+1.19%) thrusted higher and fell short of challenging it’s March highs; current action signals an attempt to reignite the uptrend out of the February lows. The Kospi (+0.04%) continued it’s uptrend consolidation, however closed well off it’s session highs which teased a continuation of the larger uptrend. Japan’s Nikkei (-1.40%) opened higher, but failed miserably, deepening its current correction off it’s latest trend high. The Hang Seng was closed for holiday, as were Europe. The North American sunrise calls were all around 0.25-0.50% higher, although much of the gains have been erased heading into the to open.
The complex shows slightly varied performances, with the Mini DJI navigating a continuation of the upward momentum overnight and reinforcing bullish tones. However day session morning weakness quiets these tones. A close at or below the current (unchanged) lows of the session (there’s too much time ahead) will certainly add intrigue. The Mini S&P, following suit, reaches fresh highs reflecting an uptrend mirroring the DJI's movements but also now intrigues with weakness. In contrast, the Mini Nasdaq presented a slightly different picture, struggling to surpass previous highs, oscillating at the higher end of its range but still hinting at a potential uptrend continuation. The recent standout Mini Russell, continues to lead with overnight strength, marking the best close at fresh highs indicating uptrend continuation. Tones remain increasingly positive with closes over 2,140.
💰 Treasury Futures
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