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Tuesday, March 29, 2016

Tuesday -- J Yell

S&P E-mini Futures:
Down in yet more choppy trade.

J Yell speaks to the Economic Club Of NY at 12:20pm. Probably nothing else matters.

Largely quiet thus far. USD weaker ahead of Yells.

Higher prices, low volume.

WTI crude lower -- could still fall to 35 and have nothing wrong. NG lower as well.

Gold and silver slightly lower. Platinum and palladium flat to higher. Copper taking the biggest digger of the morning thus far.

S&P Outlook:
No change. 2017 area and the 1977 area below remain possible support, with the addition of 2005.23 below which might mark a possible point of weirdness on the daily chart.

All higher targets are still valid -- 2060.55-2061.23 and 2064.48-2065.25 -- unless a deeper racetracement materializes.

Would still look at selling these higher levels if met with weak internals, by adding VIX (UVXY & TVIX) and SPY puts.

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