Stocks...
Spu’s…resting sell stops are below 1760. Weekly price action over 1787 is needed to think we’ve seen a good low.
Nikkei….Needs to close over 15,000 for a couple of days to rally.
F….Ford is worth keeping an eye on. It’s oversold short term, however price action below 14.30 with a Risk Off board could lead to a break closer to 13.
Bonds…
30 yr. Bonds…134.22 is the continuation 200 day mvg avg.
FX…
GBP/USD…163.00-30 is support and the downside pivot in the Pounds.
USD/JPY…sustained price action under 101.60 (over 98.45 Futures) is needed for more upside in the Yen.
Commodities…
Oil…96.85 is support. Sustaining below, look for another dollar.
General Comments orValuable Insight
Keep it simple…
Use Friday’s closes as your near term pivots in whatever instrument you’re trading. Good above…negative below.
Trade at technical levels.
Every instrument is an island unto itself.
We’d like to see the December sell stops get elected in the S&P 500 below 1760 before we look for a trad able low in the Equity Indices.
We’re looking at the buy levels in the Equity Indices for a short term bounce only!
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 neutral Equities. The next several weeks are setting up to be a big trading affair.
Current Positions….
APPL Long
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Today’s Working Orders
Spu’s…(ESH4) BUY @ 1732 GTC
Nasd 100…(ENQH) BUY @ 3441 GTC
USD/JPY…Sell Yen @ 100.35 (H) Futures…Buy USD/JPY @ 99.65 GTC
GTC…Good Until Canceled
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