Stocks...
Spu’s…we’re into back and fill mode. Closing under 1987 puts the index back on the defensive.
Spu’s…we’re into back and fill mode. Closing under 1987 puts the index back on the defensive.
Nasd 100...needs a close over 4360 for upside.
WDAY...is emblematic of many hot names. They’ve had huge runs to their
respective 200 DMA’s and it’s time to retrench.
EWZ…Brazil & Russia have had big rallies
matching the price of Oil. They’re both overbought on a short term time frame.
Bonds..
FX…
GBP/USD..hit it’s upside target Friday.
Commodities…
Copper…the chart is similar to the Spu Pit session, kissing it’s 200 DMA and backing off.
Crude…37.07 is unchanged on the year.Price action into this level should initially reject. 37.75 followed by an eventual 38.50 which is the 50% retrace of the past 2 quarters.
General Comments or Valuable Insight
Many of the names have come a long way.
The Indices themselves are in back and fill mode.
Spu’s are down with the Oil firm. It’s a correlation worth keeping an eye on for a possible breakdown.
The commodity currencies looked stretched as well. The Canada & Aussie would look interesting if they could retrace a figure lower.
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