Stocks...
Nasd 100…3908 is the next set of macro sell stops (last years low)
Initial resistance is around 4000. 3855 is the first tgt on the way to 3600.
GDXJ…Gold rallied the 16 dollars after the pit close into NYSE close allowing the miners to participate.
21.33 is the 200 DMA. 22.14 is the first resistance level.
GILD & GELG were featured in a Barron’s article over the weekend stating there was a 30% upside. Don’t be in a hurry. Gild is a low risk buy in the low 70’s.
Bonds..
FX…
Euro…110.55 is the 200DMA
Commodities…
Gold..1191.70 is where the next set of buy stops lie.
Gold/Yen…Daily
Gold/Yuan…
General Comments or Valuable Insight.
Pattern follow through to the downside in the Equity indices started right at the European open.
Long Gold against short Yuan & Yen are just trading @ their respective 200 DMA’s
The correlations remain. Long dollars/Long Gold..
Short Equities/Long Bonds
Expect opportunity both ways today. The U.S. could be a very different capital flow than Europe.
Gold and the Currency/Gold spreads are overbought with rsi’s into the 80’s.