Stocks...
Spu’s…near term resistance is last night’s high of 1928.50.
Holding above 1937.50 late day is needed for a mid week rally.
AMZN…is coming into support on the weekly charts.
This is a bounce zone the first time down.
GOOGL…shows a similar pattern on the weekly chart as AMZN.
713 would be the oversold bounce level the first time down.
AAPL…Mizuho morning upgrade has produced an early bid tone.
With a Risk on board this can bounce back towards 103.
Bonds...
30 Yr. ... 157.14 is the level to look for the bonds to print with a big drop in the Indices.
This fills the gap on the U.S. session chart.
FX…
USD/JPY…118.50 (84.37 Futures) is today’s trend breakdown level.
Yen Futures are overbought mirroring the Indices oversold condition.
Commodities…
General Comments or Valuable Insight.
Last night the Yen presaged the Equity Indices.
Yen spiked up on the opening and immediately started selling off, a warning sign that
the oversold nature of the Indices was likely to see a pressure release. ( A bounce higher).
It took hours for the U.S. Equity Indices to form up for a bounce.
Keep Yen and Yen crosses on your radar for Risk On/Risk Off sentiment today.
Yen Futures Down = Equity Bounce
Indices are direction ally challenged. Be patient to sell rallies.
Expect a big two way trade.