First Call April 7, 2021

Apr 7, 2021 | First Call

  • S&P futures little changed in Wednesday morning trading after US equities finished mostly lower in a fairly uneventful session on Tuesday in which semis and banks lagged while consumer sectors and utilities fared better.
  • Fed minutes today is the most relevant catalyst this week.
  • Asian markets mixed overnight with Hong Kong and China among the laggards while Japan posted a modest gain and South Korea, Taiwan, and Australia also finished higher.
  • European markets mostly lower. FTSE 100 with new DeMark Sequential sell Countdown 13
  • Treasuries slightly firmer at the short end after yields fell to the lowest level in nearly two weeks.
  • The dollar a bit weaker vs the euro and little changed on the yen cross.
  • Gold off 0.5%. GDX turned positive with Erlanger ETS signals. I added NEM as new long yesterday
  • WTI crude up 1.1%.
  • I posted the DeMark Sequential primer on the bottom of this note for your reference