Stocks..
SSO…94.16-25 is the matching resistance area.
Nikkei…14,615 has the potential to stall out the Japan rally for today.
Maintaining above 14,300 on breaks keeps this Index on positive footing.
DXJ…will be up this A.M. 48 is resistance and the closing upside pivot.
Bonds
Bunds….have reached interim support @ 140.46-55
30 yr. Bonds…are in an area that will not reward those selling weakness.
FX…
AUD/USD…is getting oversold. 92.80-90 is a level to look for a bounce.
EURO…is not the feature on the crosses. While it could go lower investors are buying it against all other currencies.
Commodities…
OIL…yesterday both WTI & Brent gave day traders opportunities off resistance. Last night saw the trade return to the spread. Long Brent/ Short WTI…
Brent …107.40 is next resistance, so there is more room to push the spread.
General Comments or Valuable Insight
The dollar has been the feature since early Asia.
It will be a stock rotation game again today.
Short term traders should use their time frames and opening ranges to manage risk.
Chasing markets at these levels is unwise.
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30/13 ( September 30th) closes as your macro pivots. Trade the opening ranges and early time frames.
Today’s Working Orders..
BUY TBT @ 76.60 GTC
Current Positions…
| Opened | Price | Stop TGT | |||||||||||
| Long SSO | |
91.60 | 91.15 102 |