Stocks...
DAX…today’s resistance is 9378. Sustained action above should lead to a test of the 200 DMA @ 9500.
DXJ…put in an ORH day on Abe new stimulus plan. 50.35-66 is short term resistance. Closing over this level tomorrow starts a new Bull leg up.
Bonds …
Bunds...149.88 is support and the downside pivot.
Gilts…11202 is support and the downside pivot
FX…
AUD/USD…92.38 looks to be good support. On the weekly charts, which is the bottom of the recent range this month.
AUD/JPY…is the cross that bears watching. The low was put in Aug 8th @ the 200 DMA the same time the S&P 500 bottomed.
96.53 is the Monthly ORH#. A monthly close over this level should see this being a top performing cross over the 4th qtr.This should track with a risk on board.
Commodities…
Gold...has a potential double bottom on the longer term Point & Figure at last night’s low, however failure to claw back above it’s 200 DMA is not positive.
Crude…sell any rally to 95 with a tight stop.
Natgas…is trying to bottom.. The general parameters are 3.73 support.
3.91 is the momentum area with 4.11-16 resistance.
General Comments or Valuable Insight
I would expect today to be another grind with traders awaiting Jackson Hole statements tomorrow.