Stocks...
Spu’s…2055 is support and the downside momentum level. As of now you’d need to see sustained price action below 2053 to see profit taking.
GOOGL… weakens below 711.
AMZN…weakens below 579.
Bonds …
30 Yr. Futures…are caught between 158.00 +- a few on the upside, and weakens below 156.22 close.
TLT…weakens on a close below 122.77.
FX…
Euro…Everybody is short the Euro again. 111.20 is the 200 DMA where I’ll nibble at the short side.
112.30-50 is the low risk sell zone on the weekly, a level I would only expect to be seen on dovish Fed comments Wednesday afternoon. Even then it would likely be just a momentary algo driven blip.
Commodities…
Gold…needs back above 1175 close for sustained upside. Given the whole board needs to digest last weeks end of week rally in the Dollar and the Equities I wouldn’t be rushing to sell Gold.
General Comments or Valuable Insight
Wednesday is the FOMC announcement @ 2 P.M. EST followed by Thursday night BOJ
I’m looking for some back and fill in the Euro as well as the equities going into Wednesday
.
The Dollar is short term overbought as are the Equity Indices. I’m looking for some digestion in this zone before month end markings on Friday.