Stocks...
Nasd 100…3584 is the upside pivot for more strength. A monthly close over 3630 leaves way for a test of 3754.
THRX…Theravance Inc put in a bullish ORH pattern Friday and has followed through with a close over it’s 200 day mvg avg yesterday.
A weekly close over 38.25 will lead to upside momentum. 36.40-60 is the lowest risk buy zone.Nikkei…maintaining over 14,580 is price positive. That level will act as support and the downside pivot.
Bonds…
30 yr. Bonds…133.18-23 is short term resistance. 134.07 is today’s 200 day mvg avg. keep selling the rallies until proven wrong.
132.26 is mvg avg support. Once below, look for another point.
TLT…107.72 is the 200 day mvg avg. A close over 108.05 would have me looking for a test of 110.
FX…
AUD/USD…90.10 is the closing upside pivot. The straight Aussie looks like it wants to rally anywhere from 100-200 points.
90.87 is the January high with resting buy stops above.
AUD/JPY…put in an ORH week. 92.40-80 is significant closing resistance.
EUR/AUD…is looking vulnerable to the downside by maintaining below 152.20. The weekly chart shows room to below 150 on an initial move.
This is reflective of a strong Aussie. EUR/AUD looks to be the best cross to play Long Aussie.
EUR/USD…is at the high end of point & figure resistance. New closing strength over 137.75 is needed for another move up.
Commodities…
Soybeans…13.40 is weekly resistance and the closing upside pivot.
Once above, look for a test of 13.75-80.
Brent… put in an ORH week. 107.70-90 is support that has to hold to avoid lower retraces.
Platinum…(PLAJ4) is forming a constructive chart pattern. Resistance is @ 1397.50-1406.40. A close over 1412 would be needed for a test of 1431( the 200 day mvg avg)
Silver…will turn up with a close over 20.40. Next resistance is the 200 day @ 21.10.
Gold…1304-08 is the next significant resistance area.
General Comments or Valuable Insight
The Equities are starting to lead the spreads against the treasuries. (SPU/BONDS)
We’ve seen this movie before, where the Bonds creep sideways to higher
and the Equities run.
The Bonds can gestate and become a short term scalp.
TBT traders should be very patient. It seems too soon to load the boat long and get eaten alive by fees.
USD/MXN…is strengthening and so is the Brazilian Real, which held a big go or no go level @ 24100 last night.
This will bring in bottom fishers into EWW & EWZ emerging market Etf’s
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We are positive Equities.
Current Positions….
QQQ Long FEB 14 89 Call 2/22 exp .23 cents
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Today’s Working Orders
Sell 25 or (1/2) QQQ FEB 14 89 Call 2/22 exp @ 55 GTC