Stocks...
Nasd 100…4430 is the tgt for this sell off. A close below 44.20 gives way for another wave down.
Spu’s...2052 is weekly mvg avg support. Closing the week below this level gives way for another 70 points of downside.
DAX…10915 is the 200 DMA
NEM…by holding 16.90, Newmont can trade up to 18 which is initial resistance.
AAPL…is lower in pre market. You’d have to see some early price recovery for this trade to pan out. By failing to find a bid early, APPL has the potential for another 8-10% lower.
Bonds …
30 yr. Bonds…price action above 159.19 keeps the bonds firm.
FX…EURO…111.36 is the closing cloud breakout #. This is the last level I’d pick for resistance.
Canadian Dollar…is catching a bid with the Oil. The resting buy stops in the Futures are @ 76.96.
Kiwi…66.34 are the resting buy stops. Do not fade price action above.
Commodities…
Oil…the strengthening Euro has led to bid out of London in a market that is oversold.
44.20 seems a good general barometer today.Closing much above this will negate yesterday’s ORL, which was put in with a very oversold condition. 45.65 is daily trend resistance.
General Comments or Valuable Insight
The Oil complex should have your attention today. Yield investors will be looking to pick up quality dividend paying Oil names. This should be helped by short covering in the Oil futures.
Spu’s, Nasd & Dax are all close to bounce levels. This will take into the U.S. opening to see if the Indices are putting in a mid week low.
The commodity currencies are trying to bottom.
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Current Positions…. Entry Stop TGT
Long AAPL 113.10 113.00
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Working Orders…
