Stocks...
DAX…11380 is resistance.Nikkei…(M)June Futures are rallying into today’s expiration trading close the this years high.
DAX…11380 is resistance.Nikkei…(M)June Futures are rallying into today’s expiration trading close the this years high.
Bonds …
30 Yr.…(U) 147.11 is mvg avg & Fib swing support. Bonds are getting into oversold territory. Given it’s mid-week, be mindful of chasing this direction.
Bund…completed a 50% retrace to trend from the 2013 low. Like the 30 Yr., this hit a level that can really screw the shorts.
A couple of closes under 148 would have me thinking this is going to do a swing measured from the 2008 low.
FX…
USD/JPY…122.50 is Dollar support. (81.63 JYAM resistance). The Yen would have to close above 82.00 in the Futures (under 121.95 USD/JPY) for more strength.
NZD/USD…68.71 is major retrace support and a big target.
Commodities…
Gold…shouldn’t trade above yesterday’s high if it’s going to roll over and die.
The downside accelerates below 1165.
General Comments or Valuable Insight
The U.S. Indices need to power above and maintain over yesterday’s highs to continue.
A lot of instruments have had big two days moves. be patient and let the market set up today. Those of you who are long, you just have to let it play out.
