Stocks...
Spu’s…(U) 2126 will act as resistance and the upside pivot.
Euro Stoxx & Dax both put in ORH days and are following through to the upside.
European Index Futures and options expire today.
FTSE…is trading oversold. 67.20 is the 200 DMA. Sustained price action over 6750 is needed for higher.
Bonds …
30 Yr. Bond…(M) June needs to press and sustain above 153.05 resistance for higher.
App. 151.24 in Sept.
Bund…are still struggling to close above the mvg averages now @ 152.50. Closing below 150.70 would put the Bunds back on the defensive.
TBT...is neutral. It weakens by closing below 49 support. It strengthens by closing over 50.50.
FX…
EURO… support is into 112.60 although the momentum level today is 113.00 +- a few.
AUD/USD…77.30 is today’s support. Aussie must maintain closes above this level to remain firm.
DXE…94.65 is resistance.
Commodities…
Oil…July Crude expires today. Let it play out. The macro levels are still the same.
General Comments or Valuable Insight
All that’s left for the week is the options expiration dance this afternoon for U.S. names.
There was a big blow off in China last night giving a bid to our treasuries.
The S&P 500 Futures could easily give you another 10 points higher, then it will be time to take another look at it.
