Stocks...
TSLA…203 is current pattern support with resting sell stops below.
191 is weekly support. The lowest risk buy zone is 167.
XLY…62.50 is the 200 day mvg avg.
XLI…the longer time frame charts show this is vulnerable for a bigger correction.
XLK…closed near interim support. A good close below 35 will lead to a much deeper correction.
FB…needs recovery over 58.10 for higher.
IBB… has a potential qtrly double bottom @ 222.25, just above 218 it’s 200 day mvg avg.
Nikkei…closes below 14,300 will lead to a much deeper correction.
Bonds
30 Yr. … 133.07 is the qtrly close. Upside momentum builds with a close over 133.20.
30 Yr. … 133.07 is the qtrly close. Upside momentum builds with a close over 133.20.
FX…
AUD/USD…as long as this stays above 92.70 we’re looking for just over 94.00.
This is best played against the Euro.
GBP/USD…is breaking out over 166.65
USD/SGD…the Singapore Dollar is getting a flight to quality bid today.This has been in a range for the past few years and might be showing signs of breaking out.
Commodities…
Copper… everybody seems to be obsessed with selling copper in the wrong spot because they view it as a risk off trade.Until it closes below 2.95 it’s a high risk short.
Gold…is trying to poke it’s head up. By holding 1285 this can trade to 1333.
General Comments or Valuable InsightJust a note on timing….the Contra trend “buy/sell” programs have been coming in around 1:45 CDT on big directional days, running out one way day traders.Last night’s disappointment in Japan is spilling over to world Indices.
Investors are buying Aussie,Pounds,Singapore Dollars, Gold & Oil as a reaction to further selling of equities.Trade what’s in front of you with tight parameters.
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.