Stocks...
GOOGL...would take under yesterday’s low of 757.47 to see profit taking.
AMZN…643.05 is the corresponding #.
SHCOMP…had another strong night ending the week on it’s high. The Comp is moving toward a retest of it’s 200 DMA 3761.
Bonds …
30 Yr. Bonds...153.22 is weekly mvg avg support. We’ve on closed below this level once in the 3rd week of June.
155.18 is today’s 200DMA. It would take sustained price action over 155.19 to see 156.06-12
FX…
EURO...weakens below 108.40.
DXE…is approaching 98.42 the level it broke from Aug 3.This is getting into overbought territory making chasing strength risky.
GBP/USD…remains weak under 152.42 the weekly ORL #. The next set of macro sell stops are @ 151.07 the Sept Low with 150.77 being monthly .618 Fib support.
Commodities…
General Comments or Valuable Insight
The U.S. Indices are trading over bought with 4 names “FANG” holding up the Indices.
The Dax & Nikkei are pausing at their respective 200 DMA’s with the SHCOMP looking like the only value play around.
The Nikkei & Dax closing over their 200 DMA’s would see a shift to these markets for another leg up into the end of the year.
A break to unchanged on the week in the U.S. Indexes would be met by buyers the first time down. 2074 Spu’s …4645 Nasd 100.
I don’t have a good game plan for this release so I’ll let the Algos have their way with the Markets but a strong # should be further Dollar positive and negative Gold.
Gold… is oversold. I wouldn’t be surprised to see it 30 dollars either side of where it’s trading.