Stocks...
DAX …remains firm over 11,900.
Nikkei…June needs price action under 19,500 to show any signs of profit taking going into the end of the qtr.
BPT...breaks out over 56.65
Bonds …
Bonds…163.15 will act as the short term pivot
Bunds…159.10 is the short term pivot.All new closing strength is needed for higher.
FX…
EURO… 109.75-110.00 is near term resistance. Sustained price action above, look for a run to 111.
DXEM…97.65 is today’s resistance. Watch the Euro @ 110. Above the Dollar index is headed to the 50 DMA @ 96.
GBP/JPY...is breaking down through it’s 200 DMA support.
Commodities…
OIL…as long as this stays over 46.90 it should try just over 49.
Gold…is holding breaks. Look for a test of 1200.
General Comments or Valuable Insight
The commodity markets are reacting to a weakening dollar. (going bid when the dollar weakens). Just be aware of the current correlation.
The Equity Indices will be a back and forth affair into the end of the week.
Yen…we’re going into the end of the qtr which is Japan’s year end. USD/JPY needs under 118.60 to trigger a bigger repatriation move. (Over 84.30 Futures)
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Current Positions…. Entry Stop TGT
LONG VGK 56 4/17/15 Calls .50