Stocks...
GOOG…1220 is the closing upside pivot. A breakout to the upside is needed to confirm another leg up in the Indices into month end.
Spu’s..1859 is the lowest risk buy level.
Nasd 100.. sustained price action under Friday’s low of 3685 should lead to further profit taking. A close over 3722 is needed for another wiggle up.Bonds30 yr. Bonds (H)…133.06 is the 200 day and 1st resistance. 132.09 is the 50 day mvg avg and 1st support
Bunds…142.65 is mvg avg resistance. Closing over this level leaves way for a potential 100 point rally
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FX…
GBP/JPY…171.21 is support that has to hold.
AUD/USD…could probe as low as 90.03 and hold. 91.70 is resistance (the 200 day mvg avg.)
USD/JPY…needs close over 103.50 to see further Yen weakness (96.60 Futures)
AUD/JPY...92.85 is 1st support, which held. The upside closing pivot is no2 93.70
EURO…139.50 ish is the swing count tgt. 140.15 is possible.
Commodities…
OIL...we got the test of the 200 day mvg avg @ 100.12. 102.70 is resistance and the upside closing pivot.
Oil seems caught between 100.74 & 103
Gold…needs under 1327 to do any downside damage. 1360 is near term resistance. 1373 is possible.
General Comments orValuable Insight
Pretty much everything is stuck in tight technical bands with heavy stock rotation.
The action has been in Hogs & Coffee, neither of which I’m trading at these levels.
Day traders…let the market unfold. Less is more this week.
The markets will start heating up next week into qtr’s end.
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….
Long BAC March 14 18 Call .11
Long CAT 14 March 100 Call .20
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Today’s Working Orders
No working orders