Stocks...Spu’s ...1910-13.25, 1928 and 1946.50 resistance with resting buy stops.
These levels should be fairly static all week.
Nasd 100…held qtrly support for now. Sustained Price action above 4141 will keep the Index firm for a retest of as high as 4280.
MS…is very oversold. Regardless of the earnings you’d expect to a see a pressure release rally with RSI readings this low. 28.60 is first resistance.
Bonds...
30 Yr…..157.12 is P&F support.
FX…
GBP/USD...is oversold. 144.35 is daily trend matching P&F resistance. U.K. Inflation data today.
GBP/JPY…169.90 is daily trend resistance.
Commodities…
OIL…needs to sustain above 30 to go anywhere.
Brent..will need sustained price action over 29.60 resistance for a short covering rally.
General Comments or Valuable Insight.
Earnings season kicks off today with many of the Financials, DAL & UNH pre market and NFLX,AMD & EBAY after the close.
Equity Indices & Yen crosses are all seeing pressure relief moves.
With any good earnings this A.M. investors will chase this rally.
U.S. Indices will need to close below Friday’s lows for another confirmed leg down.
Indices are having a pressure relief rally. Friday’s capitulation can lead to a fear of missing the rally today.
Bears need to exercise a little patience.