Stocks...
GS…resting sell stops are @ 166.35. 166.65-78 is 200 DMA & trend support.
Nikkei… is attempting to break out on the qtrly charts to the upside.
A close over 15,500 is needed for more upside. The low of the week, 15.070, is your risk to be long.
DAX…will remain firm over 9780 close. Do not fade price action below. Dax needs closes over 10000 to rally.
GDXJ & GDX in ORH days. The quarterly charts are looking more and more like they have bottomed for a potentially big run.
Bonds
30 Yr. Bonds…136.09-12 will be support.
TLT…112.20 is near term support.
FX…
Euro…We were stopped out of the Euro short yesterday. We’ll be very patient before we get involved again.
Commodities…
Copper…3.20-22 is closing resistance.
Soybeans… need price action over 14.10 for higher.
General Comments or Valuable Insight
Use yesterday’s closes as your benchmark to trade.
Just ask yourself if the market is higher or lower on the month, use the closes as your near term pivot and don’t fade direction unless you have a really good technical level with a tight stop.
Time frame trading today. The Equity Indices are up in pre market, expecting more inflows from indexed funds.
Be patient to see how that flow pans out.
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.