Stocks...
Spu’s…need a close under 2020 to see profit taking hit the Equity Indices in the U.S.
Nasd 100…keeps putting in higher daily lows, a bullish formation.Only a close under 4142 could change the short term sentiment, although I doubt that would do little more than present a buying opportunity against 4100.
IWM…remains firm over 115.80. By remaining over 115.80, look for a test of 120.50.
AAL & DAL…put in an ORH day.
UAL…looks good as long as it is remains above 53.87.
JBLU & LUV are two names I wouldn’t chase.
Airlines should keep trading with the oil. Weak Oil=strong airlines.
Bonds …
30 Yr. Futures… 140.04 is the 50 DMA, the level just below where the Friday payrolls reversal started.
Resistance is at 141.20 today.
TBT…holding above 53.60 resistance is needed for another dollar higher.
FX…
AUD/USD… 86.80 resistance has to be overcome to believe the pattern.
EURO…for new direction Euro has to see new price action either above 125.10 or firmly below 124.00.
USD/JPY…there is no trade location to put on a short and sleep. The moves are all coming off the crosses.
Commodities…
OIL…put in an ORL day with a close below 77.47. Sell rallies to this level with a tight stop.
General Comments or Valuable Insight
It’s all the Yen crosses today, which means that buying dollars against other currencies has to be done on good rallies to nowhere.
AUD/JPY,EUR/JPY both have another figure in them to the upside.
This simply tells you to sell strength in Euro & Aussie.
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Current Positions….
Long JJG 37.00 36.80 close 42.40
Long Ford (F)
Long Ford (F)
Short Euro (EU6Z4) 124.84 124.96
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Today’s Trades