Stocks...
BBY…is showing a seasonal bounce. Sustaining over 31.65 is needed for a move to 33 +- a few.
GOOGL…ran the Spu’s yesterday both up and down.
I try and put out the obvious matching technical levels in the big cap stocks that start and stop the Indices.
DAX…trading at it’s 200 DMA @ 11,086. Do not chase strength.
Bonds …
30 yr….155.26 is the 200 DMA. A close over 156.02-04 is needed for another move higher.
FX…
EURO…for the rest of the day…106.20-22 will be the pivot.
Suisse...97.16 Swiss Franc Futures is the commensurate #.
DXE…the index is trying to complete a 15 yr. retracement closer to 102.
Commodities…
Gold…a close over 1081 is needed to hurt the shorts. As with the Currencies, you can see some low volume extremes.
General Comments or Valuable Insight.
Full Moon Trading….
Asia was all risk off with Dollar and metals profit taking. Europe has been all risk on with dollar buying.Euro & Swiss remain offered under the aforementioned levels. Any retest of those #’s would provide a manageable level for short term trading.
Holiday trading…as with the past few days, look for at least 2 separate capital flows.
The first into London’s close. Then re access the direction.
The Dollar trade is the key feature.
The rest of the world will take advantage of the U.S. being out. Currencies have a tendency to get over stretched going into Friday.You can see some big extremes.I can’t tell you how many Thanksgivings I flew to Aspen for opening day with big currency winners, only to see them evaporate and turn to losers before mean reverting again on Sunday.
Wishing everyone safe travels and a happy holiday!
There will be no research tomorrow or Friday.
Euro
Dollar Index
