Stocks...
Spy & QQQ gave sell signals yesterday.
GOOGL & AAPL are stalling out with sell signals.
DIS…gave a sell signal yesterday. I should’ve listened to my 12 yr. old review of the last Hunger games installment. She was distressed that the film did not follow the book.
Bonds …
30 yr….155.26 is the 200 DMA. A close over 156.02-04 is needed for another move higher.
FX…
EURO…it’s still offered on the crosses. The straight dollar will only hurt long term bears above 108.00. Closes under 106 will be needed to extend lower.
Commodities…
OIL…42.47 is resistance and the upside momentum #. Above there is room to rally a couple of dollars. You can trade this level with tight parameters.
Soybeans...look like they’re trying to bottom. 8.56 needs to hold on a retest. Sustained price action over 8.70 resistance is needed for pattern follow through.
General Comments or Valuable Insight.
Yesterday I closed out my AAPL after failing once again @ 120. Seasonally this bottoms Wed or Friday so I want to see if this sell signal can generate some downside.
Markets will remain thin. The early direction after London’s close has been reversing into late N.Y. when the algo’s unwind that direction as well.
Everybody has been trying to find solace in a few names looking to boost returns into year end.
Less is more for the rest of the week.
30 Yr. Bond
GOOGL
AAPL
DISNEY
QQQ
SPY
