Stocks...
AAPL...needs a close over 112.50 resistance for upside momentum
IBB…needs a close over 352 to break out of it’s recent range.
Spu’s...resistance is 1969 with small stops over 1973.50 leading to a possible bull trap @ 1979 the first time up.
Bonds …
Bund…September Bund expires today.
FX…
USD/JPY...120.72 ( 82.88 Futures) is the 200DMA. Yen needs a close under this level to extend lower.
Euro…needs a close over 112.30 for upside.
KIWI...needs a close over 111.35 to go higher.
GBP/USD…looks like it bottomed on Monday. Today it would need to maintain above 153.55 to trade back to 154.90.
Commodities…
OIL…would take a close under 43.00 to weaken. Last night’s low was reasonably good.
47.33 is resistance. Trade the range.
General Comments or Valuable Insight
Markets went risk on Sunday night with Shanghai stabilizing. The European session was all buy with everything that entails “weak Bonds, a rebound in the commodity currencies and strong dollar against the Yen”
I’m not looking to chase this strength. Let the board play out into the U.S. session.
Some of the bigger cap U.S. names have gone from support into resistance zones in pre market.
1910 will become a big closing barometer for the S&P 500.