Stocks...
Spu’s…it’s in the middle. Much above 2055 resistance it can run back to 2070 again.
Closing today below the mvg averages would not portend well for next week.Spu/Bonds are sitting on the 50 & 200 DMA cross…The spread needs to hold here. Spu’s start down, look out below!
Currencies and Gold should catch a bid.
AMZN…646 is the must hold level going forward (thanks David for pointing that out)
GOOGL…looks to be putting in a possible slow building head & shoulders formation. Just something to monitor, not a formation to hang your hat on.
Bonds...
FX…
Euro…109.56 is the 50 DMA. 110.32 is today’s 200 DMA matching the OCT close.
This is resistance with resting buy stops above.
109.44 was yesterday’s U.S. Pit opening range. Use it for market tone.
AUD/USD…poked out into the middle of nowhere.
EUR/AUD…149.44 is the first fib retrace coming back down
Commodities…
Gold…1067 is now must hold support and the closing downside pivot.
General Comments or Valuable Insight.
​Right now it’s hard to keep focus with so many instruments flying around.
Yesterday I had the first swing correct, however not getting filled on any of my orders had me spectate the next 5.
The Index break was precipitated by a big sell program in thin markets.
There was nothing available for sale on the way up and no bidders on the way down.
Welcome to December.
It’s not easy to blindly buy the Indices with the rest of the lemmings when AMZN opens on it’s highs and goes straight down.
When I pulled my thinking cap back on after the close last night I reread my currency comments and put orders into trade the Euro from the short side in Asia.
Trading at the matching big mvg averages increases your probability of success.
I covered that trade @ 109.45 when I booted up my computer this A.M., yesterday’s opening range.http://yragharris.com/2015/12/09/boat/
Thanks for the shout out Yra!!!!
Heed Yra…Don’t chase..you’ll likely get another shot at the level if you’re patient.
EUR/AUD
Euro
AMZN
GOOGL
SPU/BOND
