Stocks...
IAT…although it put in an ORL day I’m going to give this trade the rest of today to play out.
SWKS…put in an ORH day. This has an initial upside tgt just shy of 60 by holding above 54.
PANW & FEYE…both held trend support on yesterday’s low. These are two security names that can go with a risk on board later today.
Bonds …
30 yr. Bonds…(Z) look like they can break close to another full point from here.
A little price action under last night’s low is needed for this to occur.
TBT…could push as high as 60.50 where all new price action is needed to assess a further upside move.
FX…
AUD/USD…tested resistance and has since backed off. A close over 91.15 will lead to another figure higher.
Euro…130.25 was the last breakdown level. Euro could easily retest that area. 131.40 wouldn’t surprise me today. Closing under 129.10 will keep the Euro on it’s heels.
GBP/USD…put in a positive pattern yesterday, however getting involved with anything but an options strategy for a directional punt going into FOMC and the Scottish vote is too high risk for me.
Commodities…
Brent…100.50 is trend resistance and the upside closing pivot.
General Comments or Valuable Insight
Perusing the overnight activity, traders are awaiting the Fed this afternoon.
Time Frame Trading today.
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Current Positions….
Long TBT
Long IAT
LONG VIX Sept 14, 14 Calls .14
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Today’s Working orders…
SELL TBT @ 59.85
SELL 10 Sept 14 ,14 calls @ 60
SELL 10 Sept 14 ,14 calls @ 80