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Monday 4/2 Overnight developments, 3 Charts of interest

 

Early losses in S&P futures to the tune of 0.40% while NASDAQ down nearly 0.90%, Bonds also lower with yields up to 2.766,   Metals higher across the board with Gold and Silver higher, Silver by +2% while Copper also making gains-  The breakdown in Bitcoin this past weekend trying to bounce, but clearly much damage has been done here and suggests that additional weakness can happen here over the next 1-2 weeks.  -  Overall as told in the Weekly report this am.. Trends had gotten OVERBOUGHT on hourly charts based on Friday’s move, while daily and weekly trends and momentum are still negative.   Tough to make much of this being positive just yet which will take a move back over 2680, but even on a short-term basis.. getting over 2640 is important to try for a minor bounce.   Today should cause a move back lower in S&P to make a bigger retest of lows before any serious bottom is in place. 

Premkt gainers:   MNOV, ALNA, CGEN, SENS, XBIT, HUM, GSVC, TEUM, AKER, VTVT, ZN, ZSAN, QEP, IQ, OMED, PVG, while on the downside-  SORL, ALKS, OCX, ITCi, W, FIT, LFIIN, UAA, UA, TSLA, OSTK, NTAP, FRSX, IBN

S&P- 120 min  Minor triangle doesn’t bode yet for any rally. And a pullback to lows is more likely today/tomorrow before lows are in

Right to expect weakness unless 2680 is taken  out. That would be the signal that the rally has begun.  For now.. tough to make much of this as all that positive from Mid-March

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S&P 5 min still under pressure from overnight.  Tough to be bullish until 2638 even very short-term.  For now, trend negative

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BOND yields trying to bounce, but this is an opportunity to buy TY for a move down to 2.70%.. so right to still be bullish and expect yields go lower

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