Equity/Bond spreads…plain and simple that is the game.
Gilts…120.76 is resistance and the closing upside pivot.
A couple of closes over this level should lead to a test of the 124.00 handle.
Equity Indices from the Dax to the Spu’s are entering support zones on a daily basis.
EWW & EWZ…look exceptionally bad on the weekly charts, succumbing to the fall
in Oil prices.
TLT…129.70 followed be 132.20 are the next technical levels.
SLB…closing under 82.60 will lead to a running of the 78.47 sell stops.
PANW…is one of the few bright spots today. I like the story and the risk is manageable for a run back to 128 and higher as long as it stays above 121.40.