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Tuesday, March 29, 2016

Tuesday -- J Yell

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

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

FX:
Largely quiet thus far. USD weaker ahead of Yells.

Treasuries:
Higher prices, low volume.

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

Metals:
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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