Stocks...
Spu’s….1903 is the 200 DMA, this will be pivotal all week.
1810 is possible with with early failure to hold.
Nasd 100…3760 & 3700 are the two support levels ( bounce levels)
Dax…8600 is the next targeted bounce level.
Bonds …
30 Yr. Bonds…142.15, then just shy of 144 is possible
Bund…151.04 is the print we’ve been looking for in the Bund for over a month.
Closes over 151.37 will be a sign that the world Equity Indices will still be a slave to European weakness.
FX…
GBP/USD….159.44 was the previous low and a good spot to trap shorts. Failure to bounce from this level will lead to another figure lower.
Commodities…
OIL..83.30 is first 1/3 Fib support on an 8 year retracement.
Gold…1241.50 is closing resistance.
General Comments or Valuable Insight
Spu’s had a two way trade yesterday, I just didn’t think it was going to do that many round trips.
We either hold right around yesterday’s closes or we’re in for more weakness.
Mainstream media is looking for the banks to save the day and start a rally.
I’m skeptical.