Stocks..
Spu’s…closing above 1725 should give way to 1750.
SSO…this ETF looks better from a technical perspective than the underlying Future. As Long as there is no close below 85.27 this should minimally see a new high.
Bonds
30 yr. Bond…as long as the breaks hold 132.02 we’re looking for higher Bonds,lower yields, over the short term.Day traders should use 132.18 to get long on a retest of the ORH #
TLT…105.30 is the retest level for the ETF. A weekly breakout occurs on a close over 106.30.Both instruments closed at their respective 18 day mvg avg’s which is first resistance and the upside pivot.
FX…
EUR/AUD…is getting oversold on the daily charts, however the longer time frame charts still show room on the downside.
AUD/JPY…normally rallies with a Risk On board. 94.75 is the 200 day mvg avg. Expect price rejection the first time up.
The last time we were long this cross we took partial profits in this area against the 200 day. Note, the cross corrected almost 4 figures the last time it tested the 200 day.
Sustaining above the 200 day would have me initially looking for no more than a figure (100 points).
EURO…has the potential for a double top @136.46, however the pattern is showing a possible ORH week as long as it maintains above 136.08
Last month Euro Put in an ORH. It’s held the retest and is extending higher. 137.10 is overextended the first time up.
Follow the U.S. Treasuries when trading the currencies!!
They’ll be going in the same direction.
Commodities…
Gold…needs to hold above 1300 to mount a rally.
Silver…needs over 22.10 to start turning up.
General Comments or Valuable Insight
The High yielding currencies will do well when our Bonds are in rally mode. So will the metals!
Short Term View…
Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
Today’s Working Orders…
SELL AUD/USD @ 93.90 OCO 96.70 GTC “Good Till Canceled”
We’re leaving resting sell orders in the Aussie 5 ticks below the tgt.
This means you should have an “OCO” order working to sell @ 93.90 or 96.70 OCO ” One Cancels the Other”
This means you should have an “OCO” order working to sell @ 93.90 or 96.70 OCO ” One Cancels the Other”
Buy TLT @ 105.40 with a 104.40 Sell Stop On Close GTC “Good Till Canceled”
Buy 30 yr. Dec Bond Futures @ 132.18 with a 132.00 Sell Stop On Close GTC.
Current Positions….
Long AUD/USD 25% 94.32 93.90 Close 96.75
Long FXA 25% 94.31 94.20 Close 96.70
This is a 25% position