Stocks...
Spu’s…will need under 2076 for downside. The upside remains the same.
DAX…held it’s 200 DMA on yesterday’s low.
Bonds...
FX…
Euro…106.20 is resistance. Above, there is not much until 107.
With a positive take on easing Euro could easily make a new low on the year and elect the stops below 104.62.
AUD/JPY…with a risk on board, this will be the lower volatility cross.
Commodities…
Oil…needs to sustain over 42.40 to rally anywhere. Oil is trading up in front of Opec tomorrow. Short covering could provide another trading opportunity just shy of 42.
I’ll be looking at the 13 USO puts a week out if we get up there.
Gold… 1075-76 is resistance.
General Comments or Valuable Insight.
Euro & Gold will be about whether the market interprets Draghi’s expected easing actions as big enough. The early indication seems to be yes.
By the price action going into Asia and early London the market is expecting a lot.
The last ECB meeting we saw the same price action where the Equities broke into it with profit taking in the Dollar the day before only to reverse.
A rally in the Dollar would be positive the Equities.
Equity Index lows are good enough on both sides of the pond.
Goldman came out yesterday saying the Euro would be at 103 by the end of the day today.
This has been repeated by all the major news outlets.
Spu’s
Nasd 100
DAX
Crude
AUD/JPY
