Stocks...
Spu’s…that green line is the 200DMA. A close over this level tomorrow or Thursday is needed
to attract new buying.
Nasd 100...yesterday I thought there was a chance for this to lead with early price action over 4360 looking for an assault on it’s 200 DMA @ 4417.
Nasd 100 has to close over 4360 to attract buyers.
Bonds..
FX…
GBP/USD will remain weak under 143.35 close. Sell rallies back to this level with a tight stop.
141.10-20 is the level that held on two occasions for the rally to 144.37.
Pounds will remain on the defensive below.
Yen…a picture says it all. It’s being bought on the crosses.
88.70 is last months close. Not a place to chase direction.
Commodities…
Crude…near term stops are under 36.00. I’m looking for this to retest the previous break out @ 34.75
GOLD/EURO…is matching up with the 1226 level in bullion.
General Comments or Valuable Insight
Everybody is waiting for tomorrow afternoon.
There is a little more corrective room in the Equity/Bond spreads before they either hold or fail.
I would expect subdued Equity trading ahead of tomorrow Fed release.
The XLE back under 60.80 could pressure the Indices.