Stocks...
Spu’s…still tgt the low 2020’s
Nasd 100…4160 is the next tgt.
Bonds …
30 yr. Bonds.. I don’t have an interest in selling the Bonds mid-week after a 2 1/2 point break.
FYI...I will be writing and trading off the Sept. into the end of next week.
TLT…116.30 is trend support and the closing downside pivot.
FX…
Currencies are directionally challenged. We’ve just had big moves in the straight dollars and the crosses coming into today.
GBP/USD has retraced to all the way back to it’s March Low. Yen has moved in 3 weeks to it’s Dec. 2013 dollar high.
Yesterday’s levels remain the same in the straight dollars and the crosses.
Given it’s mid week after some very big moves, instruments are going to take a breather going into tomorrow’s ECB,BOE & BOJ meetings.
Commodities…
OIL...the point & figure shows that sustained price action above 94.35 leaves room for it to retrace most of yesterday’s losses.General Comments or Valuable Insight
The indices are a grind with the biggest opportunity in individual names.
Hopefully we’ll see our partial profit level reached in the IWM today.
Don’t fight the flow!!…………………………
Current Positions….
Long TQNT
…………………………
Today’s Working orders…
SELL 1/2 Long IWM @ 118.65 GTC