Stocks...
TWTR..sustaining over 31.50 leaves way for another 5 dollars.
DIS...needs under 105.60 to weaken.
Bonds …
30 Yr….157.25 is today’s mvg avg support.
Bund…156.45 is today’s mvg avg support.
FX…
GBP/USD…is strong on the crosses. GBP/JPY is approaching it’s 200 DMA @ 185.36 so caution is advised buying strength into this level.
Commodities…
OIL..November contract expires tomorrow.
Gold...is in retrace mode after failing to close higher on the year Friday.
Sell rallies against 1177 with a stop over 1178 the 200 DMA.
Best support on the daily comes in @ 1164.
General Comments or Valuable Insight
The Bonds are reacting to an FT piece saying there will be a rate rise in the U.S. this year.
Oil has been under pressure with another FT piece saying there is more pain and job cuts coming in the Oil patch.
The Indices were flashing overbought going into Friday. This simply means that buying rallies in the Indices are not going to be rewarding.
The better trade will be in individual names with all eyes on Thursday’s earnings.
Gold
