Stocks...
Spu’s…spiked it’s 50 DMA @ 2002 and reversed. 2047 is resistance.
Nasd 100…4523 is first resistance, followed by 4563 (Friday’s breakdown level)
Nikkei...19,395 is the 200 DMA. This is the only Index holding it’s averages with a big early hold after the initial risk off puke in early Asian trade.
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.
We got it on last night’s opening. Closing back under 153.10 confirms the high.
FX…
Yen…those looking to buy dollars should focus on the Yen. 81.80 Futures is the resistance to trade against. Yen remains weak under 81.32 Futures. (123.00 USD/JPY)
NZD/USD..remains weak under 65.00.
EUR/JPY…is reversing higher, showing that the Yen will lead the Dollar higher.
Commodities…
Gold…1097.40 is resistance and the upside closing pivot.
OIL…41.60 is near resistance. Do not fade back above for it can rally back towards 44.
General Comments or Valuable Insight.
Nikkei is the best looking Equity Index making the DXJ the place for private wealth guys to focus for outside U.S. exposure.
Spu’s put in a 100 point decline with last night’s early low. The Equity/Bond spreads show the initial path of least resistance will be up in the Indices.
The indices should try to rally into mid week.
Trade the early U.S. flows.
DAX
Spu’s
Gold
Crude
YEN Futures
EUR/JPY
