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…can squeeze up to the channel line on the pennant. The general level starts @ 158.26-159.02.
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.
Yen…83.14 is the 50 DMA (120.26 USD/JPY) USD/JPY could spike to 119.80 and not do much to the pattern.
Commodities…
OIL…pattern sell stops are @ 43.21. Oil is trading very oversold. (it’s grinding down with little price action).
General Comments or Valuable Insight
Full Moon Trading is in effect.
GOOGL & AMZN has been joined by FB in keeping the Indices firm.
FB would be a good buy around 99 where you would have some trade location to initiate longs. This should at least print 106 with an eventual 115 print.
Upside Index momentum has slowed in front of the Central Bank releases.
Notwithstanding the earnings game, tomorrow afternoon will be a better time to get involved.
Crude Oil
30 Yr. Bond Futures P&F
30 Yr. Bond Future..
JY6…Japanese Yen Futures
