Stocks...
Spu’s….1942.50 is the 50 DMA resistance. Near term support will be at Thursday night’s high of 1922.
Midcap…61.59 is the 50 DMA. Both the Midcap & Russell have similar patterns.
Bonds..
30 yr….166.20 will be pivotal over the next couple of sessions.
FX…
Euro…110.50 zone lines up with the 200 DMA. Euro needs to close under this level to start another leg lower.
Euro…110.50 zone lines up with the 200 DMA. Euro needs to close under this level to start another leg lower.
GBP/USD… 141.47 starts near term support where it can trap shorts the first time in.
This is just a level to not press shorts. I’d expect the pounds to at least retest the last low of 140.80.
This is just a level to not press shorts. I’d expect the pounds to at least retest the last low of 140.80.
Commodities…
Oil..Nymex March contract expires today.
33.61 is April P&F resistance.
Copper...2.14 is qtrly resistance and the upside closing pivot.
General Comments or Valuable Insight.
Full Moon Trading…
The big loser last night was Gold with a risk on board. While it looks to be in a corrective phase against the Euro & Suisse, it’s lost momentum against the Yuan.
All the Miners are up big in London. BHP,RIO,VALE,FCX. I would be reticent to chase this strength until Copper confirms more upside.
Let the U.S. session set up to see if last night’s direction will follow through into London’s close.