Stocks...
BAC…needs a close over 16.20 for a sustained move higher.
AAPL…we’ve raised our stop to break-even.
Bonds…
30 yr. Bonds…are stuck. Only a close below 136.10 would lead to a Bond sell off.
FX…
Euro...a close below 135.30 is needed for another leg down.
USD/CHF…a close over 89.90 (Under 111.40 Futures) is needed for another leg down.
Commodities…
Soybeans…as long as the beans hold yesterday’s close it remains on positive footing. Look for this to move in 30-40 cent increments. 11.07 is near resistance and the upside momentum level.
Gold…needs to push above 1300-02 resistance for more upside.
Oil…looks to have finally bottomed yesterday. 101.40-60 is daily and weekly closing resistance.
General Comments or Valuable Insight
The Euro & Swiss both need to close under the above mentioned levels for more downside ( Dollar strength).
Yesterday the Equity Indices held important support, trapping the short sellers once again.
It’s earnings season…look at the calendar, pick instruments where you can play the little lotto a few days out (weekly options).
Pay attention to the technical pivots on your medium term outlook.
instruments are strong above and weak below.
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Current Positions….
Long AAPL 94.15 94.15 Stp 99/110
Long GLD 125 124 Stp Close
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Today’s Working Orders
SELL AAPL @ 94.15 Stop “GTC”
SELL GLD @ 124 Stop Close “GTC”