Stocks...
AAPL….resting buy stops are 575 tgting 584. 532 is support and the low risk buy zone.Those that bought lotto tickets yesterday should take the bulk of the money on the opening.
FB…65 is mvg avg resistance.Those that bought lotto tickets yesterday should take the bulk of the money on the opening.
Nasd 100…is at Fib resistance. This will be an opening range trade today.
GM,AMZN,MMM,SBUX are in earnings focus today.
Bonds
Ten year... TYM…sustained price action over 124 will have investors selling equities.
FX…
GBP/USD…Buy stops are @ 168.46. This is a potential weekly double top area.
Commodities…
OIL…(M) 101.55 will act as the downside pivot. 100.35 is support and where I’m going to look for a reversal in direction.
Price action above 102.15 is needed for another $1.00 up.
Gold is getting oversold short-term. 1265 will still act as support and a possible bear trap the first time down.
Silver…macro sell stops are under 18.80
General Comments or Valuable Insight
The metals are under pressure which is a direct result of higher equity prices. Sell rallies not breaks.
While the short-term time frames look a little oversold the longer time frame charts have farther to break.
Pay attention to the technical s of the instrument you’re involved with.
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 Equities to stay firm into next week.