Stocks...
Spu’s..(Z) 2049 will become resistance. The low 30’s can trap new shorts.
Nikkei…(H) closing under 18.950 is negative.
DAX…(Z) needs back above 10,482 close to keep from sliding further.
AMZN…646 is the must hold level going forward.
IBB…needs to close over 332 to rally.
UVXY…the momentum breakout was 31 (currently trading 33.80 in pre-market). I’ll buy a retest of this level with a tight stop.
That should match up with a rally back to the 200 DMA in the Spu’s.
38.40 is weekly resistance
Bonds...
TLT…there will be only one place for investors to hide and this is it.
FX…
Euro… 110.29 is today’s 200 DMA matching the OCT close.
This is resistance with resting buy stops above. I doubt you’ll see much above this.
Currencies will be a better trade Monday after 9:15 CDT.
Commodities…
Gold…stops have been elected in Asia. Price action and a close over 1075 would be needed for the Bulls to regain control. 1073.50 +- a dollar is the month end closing level for Gold. Above it has a chance to form up and go.
OIL…being it’s the end of the week I’m looking for a slow erosion. Everybody keeps trying to pick a low by buying the High yielding energy names.
I’ll wait until year end to take a look, as Oil rallies will be met by willing sellers on mid-week rallies into year end.
General Comments or Valuable Insight.
Next week is the set up bar for the first qtr of 2016.
The late news yesterday was the High Yield Mutual Fund that blew up and caused the Spu’s to do an about face.
They won’t be the only victims going into year end.
Forced liquidations in thin holiday markets can exaggerate price extremes.
Don’t chase anything.
DAX
Nikkei
UVXY
