Stocks...
The Equity Indices were flashing sell signals on and off all yesterday.
The U.S. Indices have not given a confirmed sell signal on my volatility charts.
They presently all show an over bought grind.
Spu’s…2010 is where the mvg averages converge today. It will take a close below these averages to confirm a sell off. Daily momentum comes in @ 2022-23.
DAX…9810 is the bottom of support. A close below is needed for a leg lower.
Bonds..
Bund…163.45 is the 50 DMA, a level that will be sticky the first time in. A close over 163.72 is needed for a launch to fill it’s gap @ 165.22.
FX…
Yen Futures…87.95 is pivotal going forward.
Commodities…
Oil…upside momentum is broken. Look for a two way trade.
General Comments or Valuable Insight
Today’s big feature will be Yellen’s speech @ 10:30 CDT.
As of writing most World Indices are below their respective qtrly pivots with the exception of the Nikkei.
I’m friendly to the Bunds & U.S.Treasuries on hard breaks.
Having said that, you can not sell weakness in the Indices or buy strength in the Bonds and get away with it.
The board will take into the end of the week to play out.