Stocks...
IAT...regional banks need to hold 33.65 for higher.
Spu…2022-24 is the level that needs to hold on a break.
TWX,V,BLK,EXAS,BRKA have good technical formations. If the Indices hold an early break and start to recover these names have room on the upside.
HCA...puts in an ORH week with a close over 75.04, targeting the mid 80’s.
Ford..remains firm over 15.
Bonds …
30 Yr. Futures…145.19-25 is support although I’m not ruling out a spike down to 145.00. 148.00 is resistance (the high of value on the point & Figure). Sustained price action over this level is needed to confirm any low.
TLT…could go as low as 126.00 and still be good.
FX…
EURO… look to sell @ 119.40-70.
EUR/AUD…needs back over 145.50 (200 DMA) to screw the shorts in this cross.
Commodities…
WTI…oversold pig. Price action and a close over 50 resistance is needed to elect a short covering to as high as 51.71.
Brent…52.66 is first resistance.
Gold…Price action below 1202 short term upside momentum fades.
The long term point & figure shows that 1177-80 is a must hold level on a break
for Bulls.
General Comments or Valuable Insight
I don’t have a game plan. There are many names and sectors that are at resistance..
SOXX,AAPL,FB, MSFT,TSO,UA,DOW to name a few.
SOXX,AAPL,FB, MSFT,TSO,UA,DOW to name a few.
It comes down to price action. Either we hold an early break and names start powering up through resistance or not.
Typically this A.M. is more about the metals and the Bonds.
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Current Positions….
SHORT 2 JYAH ….Japanese Yen 84.35 84.55 All Sesion
LONG ORCL
LONG Line
Current Positions….
SHORT 2 JYAH ….Japanese Yen 84.35 84.55 All Sesion
LONG ORCL
LONG Line
Working Orders
SELL 4 Euro @ 119.35