Stocks...
Spu’s….watch the Oil as more short covering and bottom fishing in the Energies will be the fuel for a short covering rally.
Nasd 100...4018 was last Friday’s close and will be pivotal all day.
Bonds..
30 YR. …166.27 the old high is first retrace support. 165.27 is daily trend support.FX…
Commodities…
OIL…held the key closing level of 26 which is needed for all new weakness.
It’s certainly a good enough low for a couple of dollar bounce.
Gold…is trading the inverse to the Equity Indices. This could break 40 dollars just to relieve upside pressure. 1174.10 was last weeks close.
As of now it’s consolidating in a 15 dollar range on the P&F.
General Comments or Valuable Insight.Everyone will be out the door early for the long weekend in the U.S.
China will be back in Sunday night for all you Futures traders.
Presently, the entire board is being unwound before the weekend.
We hit some extremes yesterday with the Bonds @ 170 + while the Spu’s trapped shorts into 1800 in oversold conditions.
The whole day has back and fill written all over it.
Enjoy the long weekend, we’ll be back at it on Tuesday 2/16/16.