Stocks...
GEVA…is today’s big winner.
Biotech lottery is in full swing.
Spu’s… seem stuck between 2065 & 2095. I’m not looking for follow through trade.
Bonds …
Bunds…155.74 is the key feature. Maintaining and closing below this level would mark the technical top of this instrument with very little in the way of support before the 200 DMA @ 153.97
30 Yr. Bonds… Eventually, this should trade close to the old continuation high of 153.11.
154.27 was the March low with resting sell stops below. This would be a good spot for a major screw job the first time down.Pattern sell stops were elected last night below 154.27
FX…
EURO…112.50 is weekly mvg avg resistance. Closes over this level is needed to confirm higher.
DXEM…put in an ORL day and is following through to the downside. it either reforms early and heads higher or it just keeps on going.
SFAM…108.75 is resistance (92.18 USD/CHF). Above there is room for a move to 110.
AUD/JPY…96.11 is weekly resistance and the closing upside pivot.
Commodities…
Brent... remains in a nice uptrend. 70 is a level to not buy strength into, however closing above leaves way for another 4 dollars.
NATGAS…the mid 2.80’s should prove sticky the first time up
General Comments or Valuable Insight
All eyes will be on the ADP report. The world bond markets are all over sold and most are hovering around their respective 200 DMA’s.
Be patient today. The bots have been brutal. The trade has been a huge lemming effect trade.It doesn’t have to make sense. I.E. the selling of all the Oil names with stronger Oil prices.
AUD/NZD...107.18-40 is daily & weekly mvg avg resistance , a place to tighten up risk.
…………………………
…………………………………………………………………………………..
Working Orders………
BUY USO @ 20.40 GTC