Stocks...
Spu’s…1965 is near point & figure support. 1978 fills out the reversal for initial resistance.
X…this names has lost 50% of it’s value since mid August. The path of least resistance looks to be up. The risk to own it is 10.55 for a move back to 15.
IYT…the transports led yesterday. Holding today above 144.70 will keep this firm.
FDX…150.60 is resistance and weekly closing momentum. Sustaining above would open the way for a move to 155.
XLP...48.85 is the 200 DMA (today’s resistance area).
Bonds …
30 Yr…156.06 is pattern support.
FX…
Commodities…
General Comments or Valuable Insight
We’re at the top of another big standard deviation move in the Spu’s and into weekly resistance.IBB is a big drag on the on the Nasd 100.
This needs a little time to set up today. I do not have a good game plan.
IYT…Transports
X…U.S.Steel
