Stocks..

Everybody is all in long. Look for names that have not had big moves with
RSI in the High 70’s or 80’s.

Bonds…

30 yr. is right at resistance @ 135.00. The level has not changed.
Bunds…143.75 is closing resistance

FX…

EUR/AUD…is attempting an ORH week with a close over 143.97.
This pattern is similar to the EUR/USD when it closed Tuesday below 128.09 with an
ORL. Don’t trust it! 


Commodities…

Oil…104.21-12 is minor support with stops below. We’d look for a retest of 102.60
if this area is violated.

July Grains expire today at noon CDT

General Comments or Valuable Insight

Metals are in profit taking mode.

I tried the Long side of the Bonds yesterday and was washed out.
135 will be a pivotal level in the 30 for a few points. Buying strength into it will
be unwise.

Short term traders can sell rallies up to it, however the more times you try it the less likely you are to get rewarded.

Short Term View…

It will be a short term trade today. Use the Chicago openings as your guide.

The boys are back in town and Wrigley calls for a much needed head break.