A.M. Look 7/12/16

30 yr. Bonds…weekly sell stops are @ 173.24. This will be a big inflection
level the rest of the week since it’s the weekly ORL#.
The long term Point & Figure will need a print just shy of 173.00 for a reversal lower.
Inline image 1
Nasd 100,NKD & DAX all hit their next technical resistance as outlined on the matrix.
This is not a signal to load the boat short, rather it’s a matching area that needs price and time digestion to get through.
DAX…10,067 is the low Pre-Brexit vote matching it’s 200 DMA making 10K up into this area “a do not buy strength zone” the first time up.Inline image 2
Gold is seeing profit taking on the back of a risk on board.
Of note GOLD/EURO has a potential weekly double top.
Short-term traders need to let the board breathe and time frame trade.

Long-term investors need to close their eyes and enjoy the ride.

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