Pre-open eMini SP 500 Morning Report 3.30.10

This is a guest post from Precision Capital Management

The Precise Take – Equities continue to consolidate near highs

Leaders Analysis:  The EuroYen just barely breached its inverse head and shoulders neckline overnight and has backed off.  The US Dollar Index is down into its old trading range.  It could go a bit further, but will encounter strong support from 80.52 to 80.88.  30 Year T-Bond yields are in a consolidating wedge.  Again, the leaders are equities neutral.

Medium Term Analysis:  After a quiet day session yesterday, the ES is quiet again overnight.  There are some minor scheduled news items, but it’s difficult to project…

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