US PREMARKET MOVERS: ORCL, OWL, BE, MGM, TRU, VKTX, KNF, DK, DBX ES -0.5% NQ -1.0% RTY -0.3%

Market Update: Firmer oil => Weaker stocks = Risk off
USDCHF: Whipsaw price action after the SNB rate decision
Swiss SNB Interest Rate Decision 0.00% vs. Exp. 0% (Prev. 0.00%); Willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions (prev. “increased willingness”)Source: Newsquawk.com
(Right click on any image (or chart) to open a full screen in a new tab)

US Market Wrap: Bond yields rally, weighing on stocks amid a plethora of factors
SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar up, Gold down

Market Update: Closing Indices (4 hour)
Both turning defensive, US500 more so as it trades in a retracement mode while below 7747 (on this CFD chart) after not testing its record high.
NAS100 tested a similar level (30391) after a brief, short lived marginal new record high although 30K likely most important in keeping bulls from running for cover.

USDJPY DAILY – Will the BoJ inmtervene?
The move back above 158 will raise talk whether the BoJ will intervene and if so at what level given its change in tactics to not telegraph in advance when it might take action. Given the overall firm dollar (and US bond yields), intervention would be counterproductive around current levels so Looking at the chart. the obvious level it does not want to see trade above is 160.39. In any case, 158 is now pivotal with a bid as long as it trades above it.

NAS100 4 HOUR: New high but no follow through
Lack of follow through after barely/briefly setting a new record high (30818) has slowed but not yet broken the upside risk. For that to occur, 30392 and the 4 hour trendline would need to be broken although only sub-30K would shake bulls out of the trees.

US Pre-Market Movers: SOXX, MSFT, BABA, FUN, KBH, GIS, MPC, GEHC, IMVT Futures: ES -0.1%, NQ -0.3%, RTY -0.6%

XBRUSD (BRENT OIL) DAILY (CFD chart) : $100 remains pivotal
With moves in crude oil having ripple effects in other markets it pays to pay attention to its price action (e.g. currently uptick in oil => US bond yields up) In any case, no matter what price chart you look at, $100 will be pivotal in setting the toine going forward.


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