Stocks...Spu’s ...1861 is the next set of sell stops.
1913.25 will become important late day, since we’re now trading lower on the week again.
Nasd 100…4264 was last week’s close.
Market sentiment shifts around these levels.
UVXY…47 is a resistance level I’m watching today for market tone.
A rejection here would line up with the overnight lows for another wiggle up in the Indices.
FB…saw the bounce off it’s 200DMA right into congestion.
This needs to remain above 95.44 for those who bought yesterday.
Bonds...
Equities down = Bonds up
FX…
GBP/USD…142.50-75 is one of those 16 year levels that will stop the decline until there is a couple of closes below. Anywhere close, is an area to not press direction.
It is another one of those levels like 105.50 Euro that comes from a different discipline and is not an obvious trouble zone on the charts.
Deutsche Bank put out a 127.00 target this A.M…You will still need two closes under 142.50 for a bigger flush
EUR/AUD….158.42 is a monthly mvg avg that can reject and set up with a short covering rally in the Spu’s.
EUR/JPY...sustained price action over 128.15-20 is needed for short covering.
Commodities…
No Love..
General Comments or Valuable Insight.
Yesterday’s buyers will again be today’s sellers. The dating game continues with instrument slightly over running their technical levels.
All this does is create complacency that a bottom is indeed in and you can own for a longer period.
We’ve been averaging daily 40 point +intra day moves in the Spu’s.
The question will be how this is put in today.
Short term traders Let the U.S. session set up.
Long term investors should be waiting for more capitulation.
Monthly Options expiration this afternoon.