Stocks...
Spu’s...1919-22 is support and the closing downside pivot. 1968 will delineate the upper band today.
Nasd 100..a close under 4240 is needed for further downside.
Nikkei…futures expire. December is front month.
Bonds …
FX…
Euro…needs a close over 112.30 for upside.
Commodities…
OIL…would take a close under 43.00 to weaken. Last night’s low was another retest of the bottoming formation of the weekly ORH @ 43.38 # form 2 weeks ago.
Trade the range.
General Comments or Valuable Insight
​Since I’ve been awake I’ve witnesses almost 100 handles of price action back and forth in the Spu’s. That’s was just the European session.
Whatever you do “don’t chase direction” give it a couple hours and it will change.
If you can’t get something on on your terms, let it be.
The correlations remain intact.
Risk On…Bonds down, commodity currencies rally against the Yen.
Risk Off…the polar opposite.
Trade the Time Frames & Capital flows…take your money when they show it to you.
Asian opening..7:00 Pm CDT…China comes in closer to 8:30.
London…2 A.M. CDT.
Next week is going to be big on many levels. Monday is the Jewish new Year.
Many market participants will be closed for the holiday including me.
Wednesday is the FOMC with qtrly Futures and options expiring at the end of the week.
It won’t be uneventful.
It’s a traders market.
