Stocks...
Spu’s…2083-86 is resistance. 2054 is the 2014 close, last night’s low. It will take a couple of closes under the 200 DMA to see a bigger correction.
SHCOMP…4099 is the monthly ORL #. 3854 (.618 ) of the yr. provided a technical bounce last night. A close over 4120 is needed to firm up.
Bonds …
30 Yr. Bond…152.06 is the low risk sell zone and the closing upside pivot.
FX…
Euro…The worst seems over for the Euro & EUR/JPY.
DXE…is caught between 95.50 support and last night’s high of 96.70.
USD/JPY…Yen was bought as a flight to safety last night stopping just shy of it’s 50 DMA @ 121.82 USD/JPY (82.08 Futures).
Commodities…
GOLD…1165 is where the long term Point & Figure stops lie.
OIL…57.00-57.25 is next support.
General Comments or Valuable Insight
Traders are taking the opportunity to buy Equity Indices and Euro crosses. The worst looks to be over making the rest of today a Time Frame Capital Trade. Whether or not we see another trip to last night’s low is another story.
You can see one flow going into London’s close. The afternoon U.S. session could be opposite.
It will be a low volume week ending with the U.S. unemployment release Thursday A.M.
I have had no positions for several weeks in the Equity Indices and I’m happy about it.
Short term guys should keep it very tight around today’s opening ranges.
Expect more Bot driven price action off statements the rest of the day out of Europe.
