Stocks...
Spu’s…2041 is 50 DMA resistance and the upside pivot today. 2029 is support.
NASD 100…4228 is 50 DMA resistance and the upside pivot today. 4184 is support.
SLB…83.80 is support and the low risk buy zone.
GOOGL...553 is resistance and the upside closing momentum #.
NFLX…is the best of the momentum names. 470 is next. As long as this name remains above 440 the weekly and monthly wave counts are around 600.
Bonds …
TBT…breaks out to the upside on a close over 40.85 resistance.
FX…
Dollar...in general sold off enough against the Euro, Aussie & Kiwi.
EUR/AUD… continues weakness under 146.72, 144.30 is possible.
This cross would need a Greek statement to spike it’s 200 DMA @ 145.05 to get that low.
Commodities…
Brent…58.10 is mvg avg resistance. An overrun to 58.50 should reject the first time up. I need a close over 60 for another leg higher.
General Comments or Valuable Insight
Full Moon Trading at it’s finest!
The entire board was put through the rinse cycle yesterday with the unwinding of the dollar trades as well as some of the Short U.S. /Long Europe Equity trades.
I thought today would be the day for Oil to trade 54 and back off. That happened much quicker than I anticipated.
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Current Positions…. Entry Stop TGT
LONG ZIOP
LONG AAPL 116
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Working Orders
SELL another 30% piece of the original ZIOP position @ 10.90 GTC
Make sure you cancel the order to sell @ 9.95