Pre-open eMini SP 500 Morning Report 3.19.10

This is a guest post from Precision Capital Management

The Precise Take – Equities maintaining amidst Dollar rally

Leaders Analysis:  The US Dollar Index has surged further to strong trend line resistance, and the EuroYen is just barely holding on to support.  Equities have held their ground, however, and for the same reason as yesterday (leaders at inflection points), the leaders are equities neutral.

Medium Term Analysis:  Not much to add from previous days’ commentary.  Equities are at highs, a bit overbought and today is opex.  Next week is quiet until GDP on Friday.  The Treasury auctions could depress equities a bit.  Monday will be a big test.  With no news, will traders…

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