Stocks...
Spu’s…have to sustain over 2015 for higher. The low 2090’s is near term support the first time down.DAX…11,380 is the weekly closing hold level.
Bonds …
TBT…48.16 is support and the downside pivot.
FX…
EURO…110 will be pivotal all day.
AUD/NZD…by maintaining above 107.28 close, this cross looks to retest 109 and then much higher.
Commodities…
OIL…reacting negatively to comments out of the OPEC meeting regarding output levels remaining high.
General Comments or Valuable Insight
ECB is before the bell today. Mario starts speaking @ 7:30 CDT.
“Don’t touch that”… P Diddy…that’s my motto for today.
I’m in wait and see mode for the rest of the week.
Equity/Bond spreads, for now, look constructive in the U.S.
Most markets are on the rinse cycle again. Everyday seeing contra trend movement from the following time frame. Full Moon trading at it’s best.
Lower Oil translates into pressure on the Canadian Dollar,Ruble,Mexican Peso,Real.