Stocks...
SHCOMP…is the best preforming equity market. Look for a retest of 34800-35600.
It’s very overbought.
Line…needs to hold above 12 to test the high 14’s again.
Follow the Natgas.
Bonds …
30 yr. Bonds... there is a possible short term double top on the daily charts @ 145.30.
Closing above this level will lead to more upside in the Bonds.
FX…EURO….elected the 2010 sell stops @118.78 on the Greek Exit rumors last night.
Sell Rallies/Not breaks. 116.40 is the next level of interest with resting stops below.
USD/JPY…there is no upside to the Yen unless there is a close under 118.60 ( over 84.30 Futures)
GBP/USD…153.50 was multi-year fib support. Support is now resistance.
Commodities…
OIL…54 will remain pivotal. Price action and a close over 55.50 resistance is needed to get excited about the long side.
Rallies continue to fail at resistance. I still have the 49 handle as a 1st possible downside swing count.
Trade the price action. Sell rallies not breaks.
Natgas…put in an ORL year. Minimally this needs price action over 3.05 and a closes over 3.19 to rally.
Copper…272.65 is mvg avg support. I’m bearish copper below 2.95. Sell rallies not breaks.
General Comments or Valuable Insight
Trade the price action today.
Use the opening ranges as your guide.