Stocks...
Spu’s ...1992 is first resistance. 1909-13 is the exit zone for new longs.
Spu’s ...1992 is first resistance. 1909-13 is the exit zone for new longs.
Breaks today into unchanged on the week 1877 Spu’s & 4130-40 Nasd 100 should initially be met by buyers in the U.S. session.
Bonds...
30 Yr…..158.09 is the first fib coming back down. Equities strong will be reflected in weaker futures.
FX…
Davos whispers…Irish Prime Minister says Cameron is close to a deal with the E.U.
GBP/USD…put in an ORH day yesterday. 143.21 is daily resistance and trend momentum.
GBP/JPY… has broken it’s daily downtrend momentum level that it has not closed above since Dec 18th.
Canada…this has been the same trade as the oil.
It’s coming up into resistance.
USD/CAD...141.50 is daily momentum.
USD/NOK...is reflective of the Oil stopping it’s slide with Yesterday’s Outside reversal.
Commodities…
OIL...has room on my work to rally back towards 34.
Brent…has to hold above 31.00 for another couple of dollars.
Silver…has been quietly holding it’s breaks. 13.97 is today’s momentum cluster.Worth looking at vs the Gold to see if it can start gaining.
General Comments or Valuable Insight.
The relief rally is being run by Oil and the Commodity currency crosses.
The Oil names are all in play. They will be gaping higher today.
Ideally you’d want to see them hold a retest of yesterday’s high for a low risk entry.
My weekly volatility indicators are trying to bottom and give buy signals.
I’ll update those late in the day.The Equity Indices from the Nikkei,DAX,Spu’s & Nasd 100 are all attempting to
break out to the upside above their daily momentum #’s.
It’s a long day but given the Wednesday extreme look to buy weakness today.