Stocks...
IWM…123.66 is momentum. Above, look for an initial 2 dollars.
FXI…is leading all Bourses this A.M. 51+- a few is resistance and the upside pivot.
Closes over 51.58 confirm a new Bull leg.
Bonds …
Bunds…153.85-154.10 is the resistance zone. All new closing strength is needed above this level for higher.
30 yr…is coming into resistance. Anything up into 154.27 is a do not buy zone the first time up.
FX…
Commodities…
Brent…sustained price action under 66.25 is needed for lower.
Metals….Midas couldn’t save them.
Natty…3.039 is where the rest buy stops are. Eventually I have this trading close to 3.29. After a two week 20% rally do not buy strength.
General Comments or Valuable Insight
Time Frame Trading today.Spu’s have elected the stops over the old high. The condition of the market is such that it can follow through, at least into Monday.
Trade the names that are in clear up trends.
NFLX is up on China news.
FXI is playing catch up to mainland China.
The later in the day it gets the higher the Indices will get marked.
I’m moving!