Stocks...
Spu’s...Traded unchanged on the year last night before profit taking ensued.
June shows that a close below 1997 is needed for momentum breakdown.
Bonds..
Bunds...162.20 area is the level that needs to be closed over to work higher.
30 Yr….Bonds have rallied too far to sustain without some back and fill
FX…
Yen...anything over 90.00 in the futures is an exit zone the first time up.
111.15 ish USD/JPY
GBP/USD...anything over 143.75 is too far this time up.
Commodities…
General Comments or Valuable Insight
The Currencies have all rallied too far to follow through with sustained upside.
This time of the qtr you usually see some fairly equidistant swings.
Whatever an instrument does below a level it will give you almost the same swing above. The currencies have just done that both ways in 3 sessions.
Spu/Bonds are right into momentum support, meaning I’m not looking for anymore directional follow through with out some consolidation.http://yragharris.com/2016/03/16/snatchers/
Read Yra’s piece from last night.
Cliff notes…time to look hard at quality names on pullbacks.
re post from yesterday afternoon.
re post from yesterday afternoon.