Stocks...
Spu’s…the levels haven’t changed all year. Buy stops are over the Nov. high of 2110.25. 2123 is closing resistance and the upside pivot.
Buy breaks in the Spu’s to 2080 with a couple of handle stop.
MSFT… has been doing a time correction (going sideways) since Oct earnings.
Yesterday I bought the stock and the 55.5 Dec.18 Calls for .70 cents. I’m looking for an initial move to just shy of 57.
FB…I bought the 108 DEC 11 Calls for 117 as well as stock.
I’m looking for at least a test of the yearly high of 110.56.
UNH…bottomed after a disappointing earnings @ 110. Closing over 117.80 will see this retest the year high @ 126.20.
Bonds...
TLT…122.96 is the 200 DMA with 123.68 is the next measured Fib resistance.
FX…
Aussie…74.67 is the 200 DMA.
AUD/NZD…109.24 is trend support. A close over 110 is needed to regain upside momentum.
EUR/AUD…this stays offered under 146.60.
AUD/JPY…90.73 is the 200 DMA. Above, the big weekly mvg avg cross is @ 91.57
Commodities…
Oil…needs to sustain over 42.40 to rally anywhere.
Gold…1072.40-1075 will be pivotal for the rest of the month. It needs over 1075 for short covering.
General Comments or Valuable Insight.
ADP comes out before the Bell.
I’m just looking for individual names for trade location for the rest of the year.They will provide a better risk reward profile than trading the indices.
It’s going to be volatile the rest of the week. Buy the quality names when you have trade location and can manage the downside.
I’m treating everything as a short term trade.
Yesterday you saw GOOGL take off out of the opening range for an initial 15 dollars.I’ve been highlighting these names all year for a reason.When you see the big cap market leaders go bid the broader index is not going to have much downside.
It’s only a matter of time when the smelly end of the dog follows.
Trade everything against Tuesday’s close. Positive above/Negative below.
FB
MSFT
UNH
