Stocks...
Spu’s…The only price action I would deem bearish is a gap lower opening under
2048… staying under 2048 and closing below 2038.
Probability close to zero. The most likely scenario today is at least a retest of the gap followed by end of qtr.
buying of individual equities for portfolio dressing.
Nasd 100...I doubt the break gets very far.
AAPL…you like to see this go back and fill this gap which lines up the Spu Pit gap.
Bonds..
TLT…remains firm over 129.00.
FX…
Looking for Currencies to stay strong into the close for qtr end markings.
Commodities…
Oil…this appears to be a sideways to lower correction. 37.07 is unchanged on the qtr.
Any breaks today close to there will be met by buyers.
General Comments or Valuable Insight
The Mid-Week shuffle at qtr’s end.
Technical models are up and will remain intact in the Equity Indices.
Yesterday I put out the message that the Equities were overdone on the upside when Appl
was flirting with it’s 200MA and Nasd 100 was just shy of it’s measured target.
It’s the Match Game 101.
Time to back and fill into Thursday on the model work.
The only #’s that count today are the closes.
The second qtr technical road map will be published over the weekend.
It is meant to be used as a outline for managing risk at key technical levels.
They are levels that never go away.
Markets always react to them.
By placing the levels in your alerts or on your charts you’ll know when markets are at key inflection areas.
Decision time…
First qtr’s outlook is attached for your review.