A.M. Look 11/10/15

Stocks...

Spu’s…short term sell stops are below 2064 support which if elected would open the way for a retest of the 200 DMA and unchanged on the Year in the Mid 50’s.

Nasd 100...4659-65 is now resistance, yesterday’s ORL level. This will become the upside pivot and closing hurdle.
GOOGL...755 is the short term barometer, yesterday’s ORL level. Good above/Negative below. A close under 746 is needed to see any real profit taking.
MSFT…needs a close under 53.50 to see profit taking.

Bonds

30 Yr. Bonds..we’re getting another mid-week rally. It would be a gift to re-sell these in the 154.00 handle.

TBT…the low risk buy level is 45.20 just above it’s 200 DMA.
FX…
EURO...there is no bounce to it. Traders just keep looking for a cross to sell it against whether it be the Aussie, GBP or Yen.

Commodities…

 

Gold…is seeing an oversold bounce. The first good sell level is @ 1123. An 1105 print is needed for any damage to the long term point & figure, which makes 1197-1205 the place to look for an initial high.

GDXJ & GDX…both put in bottoming patterns yesterday as the Gold was sold out and traders we’re covering their shorts. Miners could rally another 5%.General Comments or Valuable Insight
We’re back to pick a name.The Indices are in a digestive phase needed to work off the overbought condition from the Oct rally.

This could go on for another 2 weeks when investors will start to focus on retail holiday sales. AAPL typically bottoms just before Thanksgiving.

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