Compiled 02/24/12 6:00 AM (CT) Statistics: London Gold Fix $1,778.50 +$1.50 LME Copper Stocks 303,500 tons -1,375 tons Shanghai copper stocks -1,056 tons to stand at 216,086 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) For a change, the March silver contract has managed to forge an upside breakout on the charts without similar action in the gold market. With the rise this morning March silver has reached its highest level since September 23rd. The bull camp will probably take the recent rise in open interest as a definitively positive technical signal, as soaring open interest in the wake of a rise in price is widely accepted as a bullish signal. Clearly silver is benefiting from favorable equity market moves, but the market also seems to be drawing support from positive Euro zone vibes and beneficial currency market action. As in the gold market, the silver bulls probably need to see US scheduled data come in positive, and it goes without saying that most physical commodities want to see European equity markets close with gains. Comex Silver Stocks were 129.020 million ounces down 212,659 ounces. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) Asian equity markets were higher overnight, with the Japanese market holding onto a noted upside breakout from the prior trading session. In fact, Japanese stocks are reportedly close to posting their best February action in nearly two decades, and that combined with the recent downside breakout in the Yen would seem to suggest that anxiety in general is on the decline. European equity markets started off higher and were given a slight boost by news that the Greeks were undertaking a debt swap, which in turn would put that country in a position to receive the next aid tranche from the ECB. With the US equity markets showing signs of forging a fresh upside breakout on the charts this morning and attitudes in international markets upbeat, the risk-on crowd has to feel like they have an edge over the risk-off crowd in the this morning's US action. The main release of the day from the US could be the hew home sales report, which is generally expected to be higher. The markets will also see a Michigan sentiment report and two Fed speeches before mid session. Therefore the markets could get a moderate amount of guidance on the economy well ahead of mid session today.