Stocks..
SSO…92.30 is support and the closing downside pivot.
Spu’s…are presently stuck between 1750 and 1764
Spu’s…are presently stuck between 1750 and 1764
Bonds
Bund…141.46 is daily support and the short term downside pivot
FX…
AUD/USD…needs a close over 95.50 for higher.
EUR/AUD…weekly sell stops are @ 141.25. Maintaining under this level
will tgt 140.
GBP/USD….160.80 is resistance today
Commodities…
Oil…needs above 95 to rally anywhere. Qtrly sell stops are @ 93.94.
General Comments or Valuable Insight
Equity markets are still holding higher on the month. Until we see a close lower on the month across the major Indices, investors will keep buying breaks.
Time Frame Trading today just like yesterday.
Look at the usual suspects for individual names.
GOOG,NFLX,GS,OXY,PCLN, Natgas Infrastructure are all holding breaks and seem poised for higher regardless of the broader Equity Indices that seem stuck.
Pay attention to the early capital flows, the bigger game will be at the end of the week Thursday into Friday.
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30/13 ( September 30th) closes as your macro pivots. Trade the opening ranges and early time frames.
Today’s Working Orders..
Sell the remaining Long TBT @ 76.45 GTC
Current Positions…
| Opened | Price | Stop TGT | |||||||||||
| TBT |
Equity | Long |
10/24/13 |
72.57 |
71.90 |
76.60 | |||||||
| VIX | Equity | Long 14/16 C |
10/29/13 |
55 |
|||||||||