Stocks...
Nasd 100...4591 is resistance. 4500 is support.
The QQQ & Nasd U.S. only session put in ORH days and both are seeing pattern follow through this A.M.
Spu’s…2095 is the 50 DMA. Above, this would also match up with a cloud break out.
FB…yesterday could very well be the low for the week. I was hoping to get this on in the 91 handle.
Either way today I’m going to buy some upside via the Friday options closer to the close. I’m more interested in how much I can lose vs. how much the potential upside is.
Bonds …
30 Yr…154.12 is the downside inflection #. Sustained price action below, you could see another point lower.
TBT…46.79 is the 200 DMA. This is low enough to buy some 47 7/31/15 calls for a punt. These expire Friday and closed @ .27 cents.
If you’re going to make a directional bet it’s best to do it with a known downside.
FX…
Euro…111.00 is mvg avg resistance. Closes over this level is needed for higher.
Commodities…
Gold…has to hold 1085 or everybody will be in sell mode again.
Gold…has to hold 1085 or everybody will be in sell mode again.
General Comments or Valuable Insight
Oil Inventories this A.M.…Fed Minutes @ 1:00 P.M. CDT….FB after the close.
It will be “beat the bots” after 1 P.M.
Higher rates should be negative the Metals and positive the Dollar.
It’s been a good trading month, try not to blow up today.