Stocks..
Dax…9300 is first resistance.
Bonds…
Bund…have rallied a long way. 143.40 is first support and the short term downside pivot.
30 yr. Bonds…133.18 is resistance. Look for more weakness under 132.27. This could easily give you another point.
FX…
EUR/AUD…150.31 is the January low with stops below. Electing and staying under 150.30 could lead to a test of 149.30.
AUD/USD…90.10 is our qtrly pivot. Closing above this level is price positive. Use the level for market tone.
Just as 103 USD/JPY is our qtrly level, you only want to use it a couple of times for a trade. The more times into an area the more likely it is to give way.
Commodities…
Oil…has to sustain over 98.70 to show it has any possibility of breaking out of this recent range, and even then I think it will struggle to trade close to 100.
Brent…107.00 is short term resistance and the upside pivot for another
80 cents to 200 day mvg avg resistance @ 107.82
General Comments orValuable Insight
Time frame trading today.
SPU/BONDS are running the show with the Bonds having lead all year.
Follow the Bonds.
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.
The 30 yr. Bond Futures will be the least volatile way to play a Risk On
bias.
The Bonds have led from the first week of the year
Medium term…
Spu’s…there are a lot of analysts looking for either 1708 or 1685 to be the low in this Index.
My work shows you could indeed get bounces from those levels, however my work also shows the potential for a bigger break with closes under 1720 in the Spu’s and 3420 in the Nasd 100
Current Positions….
APPL Long
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Today’s Working Orders
No working Orders