Stocks...
Spu’s…I need to see one more close over 2097 for higher.
Nasd 100…4430-36 will be resistance and the closing upside pivot.
4365 is the first good bounce level.
DAX…is in profit taking mode. 11,900-12,000 is the support level and the closing downside pivot.
Bonds …
10 yr…. 129.12 is today’s resistance and upside momentum #.
TLT…needs a close over 130.80 resistance to gain upside momentum.
FX…
EURO…107.11 is resistance the first time up. Closing under 105.40 will lead to the low 101’s.
Commodities…
Gold…(M) 1180-84 is the hold level. Below, the pattern looks to retest the last low at 1140 and eventually lower.
General Comments or Valuable Insight
We have three outstanding positions which we’ll leave alone and let the stops take us out.
VIX has gone from support to resistance in one day. 14.28-15.15 is a big congestion zone of mvg avg resistance. It would take closes over 15.15 to think we’re in for a deeper correction in the Equity Indices.
……………………………………………………………………………………………………………
Current Positions…. Entry Stop TGT
LONG SOXX 91.50 94.00 Close
LONG FEYE 41.75 40.50 Close
LONG XLV 73.90 72.70 Close
…………………………………………………………………………………………………………
Working Orders…
SELL SOXX @ 99.05 OCO 94.00 Close
