Stocks...
Spu’s…2080 will act as support and the downside pivot.
Nasd 100...4540 is support. below look for a retest of 4508.
PANW…184 is weekly momentum and the closing downside pivot.
GOOGL…620 is support and the closing downside pivot.
Bonds …
30 Yr. Bonds…155.12 is support and the low risk buy level.
FX…
Commodities…
Gold…1080 is the last chance closing hold # for Gold bulls.
Gold…1080 is the last chance closing hold # for Gold bulls.
Below they lose the possibility of a reverse head & Shoulders bottom.
OIL…47.35 is near term resistance and daily momentum. Short term traders can look to manage a short again from this level.
General Comments or Valuable Insight
I’ve put in a few weekly charts today highlighting the weekly momentum #’s for a few names.
These levels represent low risk buy levels. NFLX, after hitting it’s level late last week is up 15%.
AAPL,in contrast, failed yesterday at the 118.44 weekly hold #. The low risk level to buy is between 104.50-107 off the monthly charts.
AAPL is getting into oversold territory. An early puke today followed by afternoon recovery could put in a tradable low.
Trade the names when you have a modicum of risk management.
