Pre-market thoughts - Tuesday 12th April

Another weak day yesterday with all the majors selling off. In terms of market structure it would have to be classified as an example of a double distribution trend day. Cumulative ticks finished well in the red at -85,000 which makes it the second day in a row. Definitely the sentiment has been very bearish. Right now we have large gap downs at the moment and the data does not point to good odds for a gap fill especially when we open below yesterday's lows which is typically a high risk situation and prone to trend in the direction of the down gap. I get the feeling that this market realises that the low interest rate party is about to come to an end soon. As for today, I will likely wait to see what kind of open we get and go from there.