There will be no published research tomorrow, Tuesday 6/17/14.
Stocks…
Nasd 100…(M) minimally needs price recovery over 3780 to retest the high. Price action below 3754 could lead to a deeper correction.
DAX…last night’s low is matching up with the Nasd 100 3754 level.
They both have to hold for higher.
Bonds
30 Yr. Bonds (M)…137.02-04 is near resistance and the upside pivot.
FX…
Euro…is trading oversold, which means it’s a sell on 60-100 point rallies/not breaks.
Commodities…
Oil… becomes vulnerable by trading lower on the week. Once below, Oil could have a quick sell off to 105.
Gold… 1274 is now 1st support. 1286-91 is the next mvg avg resistance area.
Corn…price action above 4.50 will run out all the shorts.
General Comments or Valuable Insight
I roll to Sept Futures #’s In the Bond & Equity Indices Wednesday.
Both the Gold and the 30 yr. bonds are at inflection levels this A.M.
Both hit key resistance and their closing upside pivot levels.
Let the Bonds be your guide as to Risk appetite today.
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.
Current Positions….
Short Euro 136.31 136.85 GTC 133.70
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Today’s Working Orders
BUY Euro @ 133.75 OCO 136.85 Stop GTC ( Good Until Canceled)
