Stocks...
Spu’s…2031-32 is initial support. 2044 is short term momentum.
Spu rallies are getting caught up in the mvg averages again, where they have so far failed to gain upside momentum.
2056-59 (the 50 & 200 DMA’s) is the level to watch the rest of this week into next.
Buying strength into the 50’s will be brutal.
The measured swing for the past 2 weeks is a 2068 print as long as there is no close below 2030.
GOOGL,MSFT,FB & AMZN continue to carry the entire market.
AAPL…needs a close over 109 for upside momentum.
NVDA…has a good chart pattern with definable risk using a 32.25 stop.
ULTA…needs to sustain over 186.25 for a year end bump.
Bonds...
30 Yr. Bonds… 156.02 Yesterday’s high and the 200 DMA will run equidistant swings both up and down.
FX…
Commodities…
Oil... 34.50-34.00 is support. 38.99 is resistance.
Natgas…definitely underestimated the ferocity of the short covering. 2.40 should be about it the first time up. A couple of closes over this level will be needed for another rally.
January (F) contract expires today. (G) Feb is front month.
General Comments or Valuable Insight.
I doubt you’ll see an impetus for another push lower this week in the Equity Indices.The few names that have been carrying the Indices all year will continue to be the places to look for short term trades going into Thursday’s year end markings.
It’s just you and the Bots for the next couple of days.