Stocks...
Nasd 100...4653.50 is unchanged on the week. This will act as resistance today.
Bonds …
FX…
AUD/USD...71.61 is the Fib retracement for the past 15 years. It’s a significant level given the oversold nature of the shorter time frame charts.
EUR/AUD…as long as this is above 149.50 the Aussie will remain under pressure.
EURO…while the Euro is lower it remains bid on the crosses against the antipodean currencies as well as the Pound. This simply means that selling weakness will make for a long day.
GBP/USD…put in an ORL day. 154.00 is the 200 DMA support. The weekly ORL # is 154.51 with sell stops below which would lead me to think a running of the sell stops would be a bear trap the first time in.
Commodities…
OIL...I’d like for rallies to fail just shy of 50.
Gold…hey Vlad, I think you’re getting a margin call.
General Comments or Valuable Insight
Look for the themes to continue in the Currencies, Gold & Oil into month end.
Just be aware that the Aussie,Gold & Oil are oversold and trading as such.
Sell rallies not breaks.
Equities…the Indices are a nite-mare of a trade with individual names being the place to be.
While yesterday’s late afternoon lows were good enough for a grind back higher, I have no desire to be involved.
