Stocks..
TLT…two closes over 107.85 resistance will lead to a test of 113.
JPM…50.25 remains support. A close above 52 is needed for more upside.
Nikkei…14,400 is support and the closing downside pivot.
Bonds
30 yr. Bonds…133.31-134.04 is next resistance. 134.21 is weekly resistance and the closing weekly upside pivot. 132.13-15 is support.
Do not lose site of 133.11 which will remain pivotal for the next few trading days. Both Longs and shorts will be tortured around this level.
It’s right in the middle.
Do not over trade!
FX…
Commodities…
Oil…trade the extremes where you can manage your risk. 104.70 is resistance. Sustaining under 102.35 will lead to another dollar on the downside.
General Comments or Valuable Insight
The Nikkei should benefit from qtr end marking. Hedge Funds have been buying Japan for months so they have a vested interest in pushing it up into qtr end.
Short Term View…
We’re in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.
There will be a lot of jockeying and position marking from today into Monday’s close.
Most of this price action I’d rather leave to the robots. So should you!
Today’s Working Orders…
No working orders.