Stocks...
CMG…this is where the day traders are playing. 516 83 will be pivotal. Anything into 500 can trap shorts.
GOOGL…weakens below 760.
AMZN…weakens below 660.
Spu’s…weaken under 2064.
Nikkei…breaks down under 19,380. December Futures expire Thursday.
Bonds...
Bund…the Dec contract expires today. The March is 162 point premium to Dec.
FX…
Euro…can rally to 109.11 and still reject. Do not fade above.
AUD/USD…72.00 is fib support.
AUD/JPY…88.56 is support matching the same swing the the straight Dollar.
Commodities…
Gold…1067-1075 is the range to trade. Which ever way it breaks out will see momentum traders going with it.
General Comments or Valuable Insight.
My volatility charts are now showing sell signals elected yesterday in the major indices.
Sometimes we see a sideways correction and other times we seen a good sell off.
I’m not sure which however I am sure that It be preferable to sell before I buy.
I’ll be monitoring the big cap momentum names for profit taking given that all the profits made this year have been in these scant few names.
EURO
CMG
S&P 500
Nasdaq 100
DJI
Russell
