Stocks...
Spu’s… 2097.75 was last Wednesday’s high and this weeks ORH #, near term support is 2072.
DAX..is breaking above it’s 200 DMA. 11,050 is near term support.
GOOGL…766.35 is the only # that can reject. This has the potential to trap Longs the first time up with price rejection, however closing over that level opens up the way for a year end rip higher.
Bonds …
30 yr. Bonds...short covering begins above 154.04 resistance. Look to be a seller @ 155.10. It would take a close over 156.00 to turn the Bonds up. anything above 155.10 the first time up I’ll look to fade.
The short end of the curve is reacting as expected to a tightening, the Long end quite the opposite.
FX…
All the Dollar bulls got ripped after the minutes with profit taking from a very crowded trade.
DXE…a failure to hold 99.20 on a closing basis will lead to more Long dollar liquidation.
AUD/USD...two closes over 71.90 is needed for an upside breakout. Futures presently trade @ an App 10 tick discount to cash.
USD/JPY…123.00 ( 81.32 Futures) is resistance and the upside pivot for more profit taking.
Commodities…
General Comments or Valuable Insight.
Yesterday was the Coup De Grace for Equity bears.
The jury is still out for the Dollar.
I’ll go back to what I wrote at the end of the first qtr.
2nd qtr 2015…Medium Term View
Euro has given us everything we were expecting this qtr, which was
another 20-figure move.We now see the Euro as an opportunistic 2-way range trade. Our work
shows we need to see all new closing weakness under 106 for another
swing lower.
another 20-figure move.We now see the Euro as an opportunistic 2-way range trade. Our work
shows we need to see all new closing weakness under 106 for another
swing lower.
GOOGL
AUD/USD
Yen Futures
