Stocks..

Spu’s…1657 is the next measured tgt.

Bonds…

30 yr. Bonds…still need to sustain above 134.00 for any upside to materialize
Bunds…143.15 is the first level to look for price rejection.

FX…

AUD/JPY…92.77 is the 200 day mvg avg.is resistance and has been rejecting closing attempts since mid June. Closing above 93.14 would start a new leg up in this cross.

Commodities…

Gold…is caught between 1242 and 1258. I highly doubt it will stay in this range after today’s
Fed minutes. Gold has to maintain today above 1235 on any break.

Oil…106.43 -79 is resistance.

General Comments or Valuable Insight

For those that are involved in the metals, you should have trailing stops working
today. The last fed minute release in April was a huge market mover.

The Bonds will get active @ 12:00 CDT with a 10 yr. auction.

Oil EIA report is released @ 9:30 CDT.

Short Term View…

Be patient, this afternoon will be busy. The complexion of the board can
be very different late.