EQUITY TECHS: E-MINI S&P: (M5) Bears Remain In The Driver’s Seat
Apr-03 13:39
- RES 4: 5837.25 High Mar 25 and a reversal trigger
- RES 3: 5773.25 High Apr 2
- RES 2: 5753.60 20-day EMA
- RES 1: 5651.25 Low Mar 21
- PRICE: 5507.50 @ 14:25 BST Apr 3
- SUP 1: 5481.00 Intraday low
- SUP 2: 5426.13 0.618 proj of the Feb 19 - Mar 13 - 25 price swing
- SUP 3: 5396.00 2.236 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
- SUP 4: 5366.97 76.4% of the Aug 5 ‘24 - Feb 19 bull leg (cont)
S&P E-Minis are trading in a volatile manner. A bearish theme remains intact and today’s fresh cycle low, strengthens current conditions. A resumption of weakness would signal scope for an extension towards 5426.13, a Fibonacci projection. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Key short-term resistance has been defined at 5837.25, the Mar 25 high.
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EQUITIES: Equities and Bitcoin are extending losses
Mar-04 13:36
- Equities and Bitcoin are seeing another round of selling, Bitcoin was close to $3k down a couple of minutes ago.
- Support is at $78,225.84 (28th Feb low), now at $82,736.38
- The Emini is clearing Yesterday's low, and look to test the January low at 5809.00.
US: MNI POLITICAL RISK - Trump To Address Congress Amid Trade War
Mar-04 13:36
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- 21:10 ET 02:10 GMT: US President Donald Trump will deliver his first address to Congress of his second term. He will tout the successes of his administration to the largest television audience since his return to office after following through on a threat to impose sweeping tariffs on the United States’ closest regional partners.
- Trump’s rationale for the tariff regime flipped. He dropped his initial premise – the flow of fentanyl and migrants: Instead, highlighting manufacturing, leaving few obvious options for Canada and Mexico to negotiate a way out of the tariffs.
- Republican leaders are expected to release the final text of a government funding stopgap this weekend, with Democrats considering using a shutdown as leverage to slow Trump's federal government reform programme.
- Senate Republicans are escalating a drive to strongarm their House counterparts into making Trump's 2017 tax cuts permanent.
- Trump suspended all military aid to Ukraine. However, there is some optimism that the door remains ajar for a mineral deal the Trump administration believes should satisfy Kyiv’s desire for security assurances.
- Vice President JD Vance will introduce Pentagon nominee Elbridge Colby at his Senate hearing.
- Rep Frank Lucas (R-OK) will open the first session of a new House task force on monetary policy.
- TSMC CEO CC Wei became the latest tech leader to join Trump at a press conference to announce a major investment.
- Poll of the Day: Canadians are more likely than Americans to say tariffs would harm both countries.
Full article: US DAILY BRIEF
BONDS: EUREX Updated Roll Pace
Mar-04 13:19
- Buxl: 63%.
- Bund: 59%.
- Bobl: 80%.
- Schatz: 81%.
- BTP: 79%.
- BTS: 58%.
- OAT: 74%.
