Stocks...
Spu/Bond…spread is breaking down, led by the 30 yr. rally. This is capping the Equity Index rallies.
Spu’s…would need to sustain under 1864 to see much selling.
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.
USD/CNY…after reading http://yragharris.com/2014/04/
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…1299 will be an important closing barometer today.
General Comments orValuable Insight
With the uncertainty of Ukraine over the weekend most investors will remain in a defensive posture.
They’ll be more inclined to hold treasuries and park Equity money in very conservative names/ shunning momentum names.
Long DJI & SPU/ Selling high beta Nasdaq names.
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 neutral Equities.
