Stocks...
DAX…9600 is resistance. the sell stops are @ 9498 today’s ORL#. Then look for a test of 9440.
Nasd 100…back under 3576 will propel the Bonds even higher.
IWM…under 113.50 would precipitate downside momentum.
Bonds
30 Yr. … we were stopped out of the Bonds last night @ 133.04. Brutal!
30 Yr. … we were stopped out of the Bonds last night @ 133.04. Brutal!
A close today over 133.22 puts in an ORH day.10 yr.. (TYAM) 124.23-27 should trade.
FX…
USD/JPY…we were stopped out of the Yen shorts in London.
There are resting buy stops under 101.20 (over 98.80 Futures)
AUD/USD…is looking a little over stretched around 94.55. Once through there is not much until you hit multiple matches starting @ 95.75-85.
Futures are trading an app 40 point discount to cash.
NZD/USD…the Kiwi has come a long way. 87.90 starts macro resistance with 88.45 the 2011 high.This is a substantial macro area that will be tough to penetrate the fist time up.
EUR/AUD…sell rallies against 147.85 until proven wrong. This cross
is getting a little oversold short term, however the longer term charts show much lower targets.USD/CAD…is directionally challenged. Price action over 109.00 ( under 91.65 Futures) will elicit profit taking.
Commodities…
OIL…price action below 102.80 will run out weak longs.
Gold…I’m looking for this to trade into the 1328-33 area.
Closing over 1336 will lead to another 30+ dollars.
General Comments or Valuable Insight
With the Bonds remaining firm, this should keep the Gold firm.
They’ll travel in the same direction.
The Nikkei is not looking too good.
The U.S. Equity Indices went up on air into some good resistance.
The world Bond markets are going into rally mode.
Opening Range Time Frame Trading again today.
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We are Neutral Equities.
Current Positions….
We were stopped out of both positions last night.
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Today’s Working Orders
None