Pre-open eMini SP 500 Morning Report 4.16.10

This is a guest post from Precision Capital Management

The Precise Take – Markets quiet ahead of options expiration

Leaders Analysis:  The EuroYen forex cross is down again overnight, trading below its 20 day moving average.  The US Dollar Index continues to test resistance and the upper end of its current week’s range.  For today, the leaders are slightly equities bearish.

Medium Term Analysis:  The rally continues with every minor dip being bought, including the overnight test of the prior overnight’s low.  As we wrote earlier this week, if the ES can close above 1215 on Monday, it has a good chance of…

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