Stocks...
Spu’s…as long as 2060 holds on breaks downside is limited.
Nasd 100…4258 is support and the downside pivot.
Bonds …
30 yr. Bonds.. 142.27 is support
FX…
EURO….123.75 is the low risk sell zone.
EURO….123.75 is the low risk sell zone.
AUD/USD…81.65 is resistance. A close over 82.45 is needed to confirm upside follow through.
Commodities…
OIL…54 is support and the closing downside pivot. Sustained price action and a close over 56.30 resistance is needed for more upside.
Copper…had a good break off 1.95 resistance and macro pivot. This is weakness I would not chase going into year end. If you sold against 1.95 then use a break even stop and see if you can squeeze a little more out going into year end.
General Comments or Valuable Insight
It will be just you and the bots.
The board will be all about which names can get pushed on a given day.
Any low volume Equity Index break should be viewed as an opportunity to get long going into the new year.
Sell any rally in the major Currencies going into year end. “Euro,Yen,Pounds”
For you private wealth guys there isn’t much to do.
The big decision will have to be made by tomorrow whether to go long into the new year to ride the wave up of expected capital inflows into equities.
The past few years there were few opportunities to get long Equities without chasing.
Trade the opening ranges and the bigger time frames.
The markets don’t have to do anything until Wednesday.
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Current Positions….
Long JJG