Stocks...
Spu’s..sustained price action under 2085 is needed for another 20 points of downside to test mid 2060’s.
Bonds …
30 Yr. Bonds…163.15 will act as the short term pivot.10 Yr. Bonds…the risk to be long the Ten yr. is yesterday’s low 128.24
TLT…is breaking out to the upside on a weekly chart
FX…
EURO… resting buy stops are @ 110.36. 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.
Commodities…
Brent…new closing price action over 57 (mvg avg resistance) is needed for higher.
Gold…is holding breaks. Look for a test of 1200.
General Comments or Valuable Insight
I’m keying off the treasuries for the Gold & Currencies today. As long as the Bonds remain bid so should these instruments.
I bought TLT yesterday because it seems the safest place to keep money.
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Current Positions…. Entry Stop TGT
LONG VGK 56 4/17/15 Calls .50
LONG TLT 132.57