A.M. Look 7/13/15

Stocks…

Spu’s…2052 is the 200 DMA last night’s opening low. 2078 will be pivotal all day.
By maintaining above look for a test of 2095.

Nasd 100…4450 +- a few is first resistance. New momentum will need a close over 44.65, today’s 50 DMA.

FTSE...6703 is today’s 200DMA and last night’s high.

Bonds …

TBT...as long as this holds above 49 the uptrend is intact.

FX…

GBP/JPY...it will take a couple of closes over 192.47 resistance to extend.
This is the mirror trade of the Spu’s.

EURO...110.50 is near support. Euro has been putting in higher lows on the daily chart for 5 days. Closing below here breaks the pattern. The upside breakout is above 112.25.

USD/JPY...remains weak above 122.95 ( below 81.33 futures)

Commodities…

OIL...is currently stuck between 52.50-51.30 on the Point & Figure. It needs to sustain above or below for follow through.

It’s a trade the headlines out of the Geneva nuclear talks.

General Comments or Valuable Insight

Let the day unfold. This is a traders market with the SHCOMP ORH pattern from last Wednesday marking the low.

Buy the hard breaks.

This entry was posted in Archive and tagged , , , , , , , , , . Bookmark the permalink.