Stocks...
AAPL...needs a close over 112.50 for upside.
GOOGL...626 close is today’s hold #.
IBB…336 will be pivotal all day.
Spu’s...Point & Figure stops will be under 1916. 1957 is resistance.
As of this writing you’d need to see sustained price action above 1936-7 to go anywhere.
Bonds …
30 yr…(Z) price action above 155.18 is needed to extend higher.
Above there is room for almost another 2 points.
Bund…154.57 is today’s resistance and closing upside momentum #
FX…
EUR/JPY...131.81 is yearly 2/3rds fib support.
Commodities…
OIL…keeps spiking the 50 DMA and failing to hold above. Today that level is 47.64. I would need to see it maintain above this level and close above 48.16 to extend gains.
Look for a continued 2 way trade.
General Comments or Valuable Insight
Mea culpa…I thought that the rally would sustain for more than the Draghi press conference yesterday before a retest of the lows.
Soon after London closes it will be just you and the bots.
It will be a late day game. If investors see an unemployment rally fade, the later in the day the worse the board will look as trading desks empty and risk gets pared back ahead of the long holiday weekend.
No one is going to be in the mood to take weekend Equity exposure.
Futures traders can turn their machines on for Asian trading Sunday night.
The above scenario would translate into a strong TLT.
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Current Positions…. Entry Stop TGT
Long MRO 17.00 16.60
