A.M. Look 10/16/19

Spoo’s will require a print into the low 2980’s for a reversal on the 25X3.

Nasd 100 will be the better lead Index.

Spoo/Bonds have initially rejected its 200 DMA matching the potential double top on the 100X3 Spoo PNF.

The combination of the two indicators simply tells me its a level to not press direction.

When markets get to macro levels like the ones hit late yesterday in the Spreads new direction generally takes time to develop.

This is particularly true after the big standard deviation moves we just experienced in the Nasd & Spoo over this past week.

DAX & Euro Stoxx 50 are still leading.

Spoo/DAX has hit its objective for the downside early this A.M.

Let the game begin for leadership.


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