Stocks...
Spu’s…sustained price action under 2081 is still needed to budge the Bulls.
Nasd 100...4659-65 is short term support and the downside pivot.
DXJ…55.12 is the closing hurdle for upside follow through.
WTW…the fat lady is singing. A pull back to 19 ish would provide a low risk level to buy some upside into January, which is their seasonally strong sales period.
There is room for another 20+% upside.
Bonds …
30 Yr. Bonds...monthly sell stops are @ 151.25.
Sell 2 point rallies, I’m looking for the the 30 yr. Futures to trade into the 147.00 handle over the next month.
FX…
EURO...107.33 is the low qtrly close for the past 12 years. This is not a level to press shorts until easily closed below.
108.30-40 is first resistance.
DXE...closer to 98 is support.
Commodities…
The main feature to start this week’s trade is the strength in China and Japanese equities relative to the rest of the world Bourses.
The Nikkei strength is coupled with a devaluing Yen. It’s the Yen crosses that are on the move translating into short covering of long Dollar positions against the Euro,Pound & Aussie.
Wait for good retracements to initiate new Dollar long positions.
A rally in EUR/JPY near 133.70 this week should match up with a low risk sell level in the Euro.