A.M. Look 10/28/13

Stocks..

EWW…Mexico finally put in a trad able low on Friday with an ORH day.
Friday’s low also put in a double bottom on a weekly chart.
Sustaining and closing above 66 targets 67.15-25 followed by 68.75.
Meli…as long as this closes above 138, this tgt’s 150.
AAPL…earnings today.
P…Pandora put in an ORH day Friday. Pattern is positive as long as it remains over 26.25.
KMI…closing above 37.15 will lead to more gains.

Bonds
30 Yr. Bonds…no change, traders will await the FED statement Wed.

FX…

USD/JPY…is showing bottoming action. Maintaining over 97.40 is Yen negative.

USD/CAD…could rally to retest the last breakout of 103.80 ( app 96.33 Futures). This would be a low risk sell with a 30 point closing stop.
Commodities
Gold…Bulls are back. Traders can manage any Long attempt against
1343. As long as 1343 holds on a closing basis, look for a test of 1400.
General Comments or Valuable Insight

Check your earnings calendar, opportunity is in the individual names.

EWW “Mexico” should be monitored for an opening range trade today.
By holding 65.25 we’re looking for higher prices.
Short Term View…

Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.

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..

 

No working orders….


 

Current Positions

     Opened    Price  Stop
IBM Equity Long

10/17/13

174.5

172.40

TBT
Equity Long

10/24/13

72.57

71.90

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