Stocks buoyant as the last quarter kicks off in full
Europe's stock markets are showing healthy gains today and have followed on from a strong Friday finish in the US after the NFP data.
US futures are pointing north with the S&P up 14 points at 1956
The US rally took more than a few by surprise and the rest seem to be following. There may be an element of re-establishing positions closed off for quarter end last week from those who waited for the NFP risk to finish
It's too early to say whether we're about to see the multi year rally get back on track of whether we are staying in consolidation mode. I'm inclined to think the latter. We're seeing the same pattern in FX as we are in stocks and until we see some key levels breaking, range trading is the way to go
S&P daily
