Stocks...
Spu’s…support starts @ 2020.
Nasd 100…near term sell stops are @ 4562 looking for a test of 4530.
Nikkei...19,395 is the 200 DMA. This is the only Index holding it’s averages.
NFLX & GE…both put in ORL days.
FIT…is trading below it’s 30.40 IPO opening price. As long as this remains below, there will be no bounce.
Bonds …
TBT…the low risk buy level is 45.30 it’s 200 DMA.
30 Yr. Bonds…still looking for a 154.00 print to match up with the 200 DMA in the TBT to look for a bounce.
FX…
AUD/USD…is approaching it’s resistance level @ 71.70 the downside channel.
EURO…has room to retest the Unemployment breakdown level @ 108.56.
DXE…the dollar index put in a topping pattern. I’m looking for a retest of 98.20
Commodities…
Gold…put in an ORH day. 1090 is short term resistance with resting buy stops above.
General Comments or Valuable Insight
NLFX & GE are great examples of what happens when all the hedgies ( looking for Alpha) hiding in a couple of names hit the sell button at the same time.
Pay attention to yesterday’s lows for your next signal. Both are lower in pre-market but that could change pending U.S. Data releases @ 7:30 CDT.
The Dollar is the other crowded trade that has trapped the horde.
It’s Friday with a risk off board., meaning it’s not the day to look for a longer term low.
Seasonally, Thanksgiving +- a couple of days is better timing.
Equity/Bond spread is close to it’s 200 DMA, meaning selling weakness in the Equity Indices is not smart! We’re into a bounce zone.
Time frame trading….
GE
NFLX
SPY
Nasd 100
DXE
Nikkei
