Stocks...
Spu’s… 8/19/15 high we broke from was 2093.25. It was Mid-week high.
Note should be taken at yesterday’s index lows ( SPU’s 2073.50 & Nasd 100 4642.75) which would be today’s ORL #’s.
These are the panic levels for the Longs and the levels the Bulls want to defend.
A running of the pattern stops and a snap back above those levels would be a perfect Bear Trap today.
A failure to bounce from those levels would have me looking for some good profit taking into the middle of next week.
LNKD…245 is the first exit zone for longs. A couple of good closes above this level will be needed for another leg up.
Bonds …
30 Yr. Bonds...156.17-22 is resistance, right at the channel break down #. Above the Bonds will come right back up into the middle of the recent range, closer to 157.13
FX…
Euro…110.40 is today’s point & figure resistance.
DXE…96.86 is the 200 DMA.
The Dollar will be a better trade Sunday night into Monday
Commodities…
Oil…is holding breaks over the past 2 days at it’s 50 DMA. 46.75 is today’s resistance and upside momentum #.
General Comments or Valuable Insight
Day traders should be viewing mid-day weakness for a set up for a late day rally.
The later in the day it gets the Bots will run the show.
It’s Month end so the only thing that really matters are the closing prices to use as pivots for next months trade.
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