Stocks...
Spu’s…2016-18 is the level for shorts to give it a go.
Spu’s…2016-18 is the level for shorts to give it a go.
Equity Indices would be extremely overbought right into the gap and the 200DMA just
shy of unchanged on the year.
Nasd 100…4424.70 is today’s 200 DMA.
DAX…9850 is resistance and the upside pivot.
Bonds..
30 Yr…(M) there is currently an all session double top @ 163.28.164.04 is the level of the last breakdown. Above 165.21 is the next big area.
FX…
AUD/JPY…84.16 is the second target for this retrace. This is resistance and the closing upside pivot
Euro…110.43 is the 200 DMA.
EUR/JPY…needs to maintain above 125.05 for higher.
Commodities…
Gold…1309 is the 2015 high, via the high close of 1283.70.
General Comments or Valuable Insight
I currently have no dog in this hunt.
Equity Indices have moved into that getting overbought grinding up phase.
As long as buyers show up on an initial sell off, the indices will get marked up into the close.
The Bond highs will be important to pick out Equity index lows.
Oil still needs a weekly close over 35 for higher. Just something to look at late day as a catalyst for equity indices.
Next week you’re going to get a whole new game. Tuesday is Bund expiration.
ECB meets Thursday.
The June contract is trading at a 265 point discount to March.
Long only guys should look at the VIX @14.50-15.50 area. Portfolio protection will be cheap at the end of the day with a risk on close.