Stocks...
Spy…breaks out on a weekly above 209.25 close.
BUD…127.50-90 is resistance. Closes over this area is needed for more strength into year end.
FB…106.91 is this week’s ORH #
NFLX…sustaining above 122.50 leaves way for 124.35, the next momentum #.
Closing above 125.75 negates all previous negative patterns.
IBB…339 then 348
DIS…114.50 is resistance and the upside closing momentum #.
GE…all the services are recommending buying this. Can’t say as i blame them with an ORH day yesterday. It’s not exactly a fast moving name.
The risk to own is 1 dollar to make 3.
XLU…closed right at the 200 & 50 DMA cross. Above this area they can go again.
XLK…remains firm above 43.80.
Bonds...
30 yr…156.02-06 is pivotal.
FX…
FXE…those of you that closed your eyes and kept the 106.50 puts, they should open in the money. As long as the equities remain bid you should be ok.
Anything close to 108 in the Euro, you should exit these puts since they expire tomorrow.
DXE…98.94 is resistance and today’s upside momentum #
EURO...a close tomorrow below 107.96 opens the way for a higher dollar into year end.
Swiss…this wants to trade back at 100.
Commodities…
General Comments or Valuable Insight.
Given that last week saw massive put buying the path of least resistance will be up into triple witching tomorrow.
I do not see the impetus for much downside although I suspect you’d get some back and fill today into tomorrow after a 100 point Spu rally since Monday.