Stocks...
Spu’s… 2095 + a few is cloud & mvg avg support. A close under this level is needed for more downside.
Nasd 100…4550-60 is the low risk buy zone.
SHCOMP…is holding putting in a sideways to higher pattern.
Bonds …
Bund…153.33 is a potential double top. Mvg avg support is @ 152.05.
Trade the levels.
FX…
Euro…retested yesterday’s highs in late Asian trading and has so far rejected.
Commodities…
Brent...57.50 is resistance and the upside closing pivot.
WTI…price action and a close under 50 opens the flood gates to short selling again.
Gold…this remains a sell the hard rallies.
General Comments or Valuable Insight
NFLX & FB have both held up in the face of the NASD earnings route.
July has been busy. I’m clearing out my residual trades and preparing for full on summer trading, where you have to be instrument selective, level specific and trade for smaller profits.
Time Frame Trading.
Conceptually, we’re looking to see if the Equity Indices can hold a mid-week sell off and rebound. I’m not in any hurry to pick a low.