Stocks...
Don’t get caught selling weakness into Month end.
Bonds..
30 yr. Bonds…135.25-136.08 is the big over hanging weekly resistance.
Sustained price action above 135.15 next week is needed to change the look of the long term charts.
Next Friday is when the Bonds will have a bigger move.
FX…
EUR/AUD…154.00 remains the upper extreme. All new closing price action and direction Sunday night into Monday is needed to go with the direction.
Short answer; Month end…don’t chase the Euro strength.
Commodities…
OIL…under 101.75 look for 101.20.
We’re exiting this trade @ 99.98, just above the 200 day mvg avg.
Getting stopped out of the Oil short @ 103.15 will have me looking to re-sell @ 104.70-105.
General Comments orValuable Insight
The levels haven’t changed in anything I’ve written about.
The only thing that matters is today’s closes.
Spu/Bonds are right back at the 50 day mvg avg. ( Nowhere!)
Look for Equities to be bid late day.
Both Oil & Gold are putting in flag formations. This simply means they aren’t going to stay in this range much longer.
Ukraine tensions seem to have these caught in the middle. I think new direction will get resolved by Monday.
Opening Range Time Frame Trading again today.
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.
We are positive Equities.
Current Positions….
Short CLEJ
Long TLT
…………………………
Today’s Working Orders
OIL…BUY 2 Contracts @ 99.98 GTC
Sell 1/2 your long TLT @ 108.97 GTC