SPU…1178-86 is the key resistance level. Only a close over 1187 will have me thinking the worst is over.

Many instruments completed multi-year swings or came close Monday night into Tuesday. OIL, CAT are stand outs. AAPL..old resistance become support at the 355 level, watch for general market tone.

Bonds…The 30 Yr. looks like a low risk buy against last night’s low for another potential rally to the highs of yesterday. Think SPU/BONDS…If the Bonds go back to re-test Yesterday’s highs the stocks should not preform well. Read Yra’s comments for the past 2 nights. “Can Low rates create a chase for return in high yielding dividend stocks again?”

USD/JPY… BUY Stops are under 76.25 ( 131.30 ish futures)…this will lead to another round of safe haven yen buying.

All trading will require a high degree of risk in this environment! Day Traders…keep your technicals and time frames close, and you’re your stops even closer..

Remember we live in a world where every trade is the same trade..RISK ON…RISK OFF Pick your poison and limit your risk, If you miss one instrument there is usually a surrogate trade in another.

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