FINANCIALS: JP Morgan (JPM) - Q1 25 Earnings preview
Positive expectations around the IB & trading. Elsewhere expectations are behind peers and possibly ...
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US TSYS: TY Through Friday's High, Nears Next Resistance
TYM5 threatens a clean break through Friday’s high (111-11+) on the back of the wider risk-off flow flagged elsewhere. More meaningful resistance located just above at the March 5 high (111-15). Yields now 8.0-11.5bp lower on the day, 5s still outperform.
EQUITIES: S&P 500 E-Minis Through Friday's Low
Fresh pressure for equities here as S&P 500 e-mini futures break below Friday’s base. Nothing new in terms of headline flow, with single-stock news out of Europe and continued U.S. growth worry cited as the most meaningful drivers on the day.
- The focus is now on the Sep 12 ‘24 low (5,658.00) in the S&P 500 e-mini.
USDJPY TECHS: Fresh Cycle Low
- RES 4: 154.80 High Dec 12 ‘24 and a key resistance
- RES 3: 152.21 50-day EMA
- RES 2: 151.30 High Mar 3 and a key near-term resistance
- RES 1: 149.33/150.40 High Mar 6 / 20-day EMA
- PRICE: 146.76 @ 14:48 GMT Mar 10
- SUP 1: 146.64 Intraday low
- SUP 2: 146.26 2.0% 10-dma envelope
- SUP 3: 145.92 Low Oct 4 ‘24
- SUP 4: 144.13 76.4% retracement of the 16 ‘24 - Jan 10 bull leg
The trend needle in USDJPY points south and today’s bearish start to the week reinforces current conditions. The move down has resulted in a breach of 146.95, 61.8% of the Sep 16 ‘24 - Jan 10 bull leg. Sights are on 145.92, the Oct 4 2024 low. Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend. Key short-term resistance is 151.30, the Mar 3 high. Clearance of this level is required to signal a base.
