Stocks..

Nikkei… is rolling over on the weekly charts

Spu...the daily charts formed a head & shoulders top last week that
have investors looking to sell the big rallies.

Bonds…

30 yr…is having an oversold bounce . The question now is high how.
131.25 is the first descent resistance level. Then it can move a point at a time to the upside from there.

FX…

EUR/AUD…put in an ORH pattern yesterday with the close above 146.30. These patterns are typically price positive and you’re seeing that follow through into today’s session. 148.19 is closing resistance.

AUD/USD…put in an ORL pattern which is the flip side of the pattern above, eliciting renewed selling of the Aussie.

Euro…has rallied to resistance @ 134.05. Sustaining over and closing over this level is needed for another up move.Commodities…

Commodities…

Silver & Gold both hit support last night as the European session saw profit taking in the Short Euro /Long Metals trade.

General Comments or Valuable Insight

The Spu’s are getting oversold on the daily charts with the Bonds having a good oversold bounce. Trade your time frame today. Just like yesterday things can change after the European session.

The one thing that struck me yesterday was the Vix not breaking anywhere when the equities tried to rally early. Keep an eye on this today.

Vix closed over it’s 50 & 200 day mvg averages yesterday which is price positive. 16 is big resistance in the cash the first time up which should stop any break in the Equity Indices in the short term.

It’s summer time trading and the robots are in control.

Short Term View…

Trade instruments off their own technical s
Time Frame Trading.

The trade will be all over the place going into tomorrow.

Current Positions
Entry           Stop           Targets

Long QID                       21.06            20.28             21.90