Stocks...
XLU…put in an ORH day. 44.39 is 200 DMA resistance.
43.75 is support.
XLK…41.81 is resistance.
NFLX…put in an ORH day. Retest support is 109.30.
Nasd 100...4390 is resistance.
Bonds …
30 Yr. Bonds…despite the ORL Bonds traded right to trend support @ 156.06 after 2 P.M. pit close yesterday.
Price action back above 157.07-13 will have the Bonds going back up.
FX…
EURO…113.77 is weekly mvg avg resistance. Euro needs to sustain and close over this level for more upside.
Commodities…
Oil… 51.10 is the 200 DMA. It remains to be seen how much of a pull back we get from this level. So far not much.
49.50 is today’s support.
Weekly moving averages show closes over 50.50 is needed for another leg up.
Silver...is not backing off. With a close over 16.11 it’s time to add this back into your portfolio.General Comments or Valuable Insight
The action will be in the Energy related names.
Midcap was strong against the broader Indices early yesterday and remains bid.
Both the Spu’s and the Midcap are approaching .618 retests of the entire sell off.
With the Vix trading close to it’s 200 DMA be patient not to over trade.
A little time is needed to see which one is right. Vix either eats through it’s averages and Equities continue higher or not.
Spu’s
Nasd 100
Crude
Midcap
