Stocks...
Nasd 100…Point & Figure break out is above 3625. Sustaining above
leads to an upside breakout.
Bonds
30 yr. Bonds… 136.27 should be monitored for tone on the SPU/BOND spread.
FX…
EUR/JPY…138.06 is 200 DMA support and is over sold on the daily time frame.
Yen Futures have printed their 200 DMA @ 99.14. USD/JPY is under it’s corresponding level and would need over 101.60 (under 98.40 Futures) to confirm a turn around.
Commodities…
OIL… July (N) over the next 2 days 103 will become an important pivot level.
Brent…support starts @ 109.05 into 108.70 (the closing downside pivot)
Gold…1305 now becomes the upside weekly pivot. This was an important rejection at this weekly level .
Coffee… (N) only weakens with price action and a close below 180
General Comments or Valuable Insight
The Equity Indices are caught in a range per the longer term point & figure charts with the Russell being the weak link.
I was stopped out of the currency trades last night and still think the thesis was sound, however I am leaving them alone.
Welcome to the Mid-Week shuffle.
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.
