Stocks..
Spu’s…are caught between 1673-1692 waiting for our fearless leaders to do their jobs!
Bonds
FX…
AUD/JPY & EUR/JPY….are both up at short term resistance.
AUD/USD...needs a good close over 94.25 to lead the AUD/JPY cross.
Commodities…
Precious metals…investors trading this range should be aware that they are being spread against the Euro
General Comments or Valuable Insight
I have a small Risk On Bias with extremely tight stops. Use your opening ranges and time frames today to keep chipping away.
Individual names will continue to be a better place to trade than the Indices.
Any movement out of D.C. perceived as a possible resolution to the Debt Ceiling will be Risk On.
More “he said She said” and the markets will continue to wallow.
I still don’t rule out a big break this month. I nibbled at a small Risk position just to
have some exposure to the upside, “Glass half full kind of thing”.Closing lower on the month in the Equity indices will have me put my Bull costume in the closet until Halloween.
Short Term View…
We’re in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use Monday’s closes as your pivots to trade the opening ranges and early time frames.
Today’s Working Orders…
Sell1/2 your long AUD/JPY @ 92.40 GTC (Good Until Canceled)
Current Positions open stop tgt
Long SPZ 1679 1673 1715
Long AUD/JPY 91.18 91.00 92.40/94.70