Bond buying is the theme of the past few hours.
It’s pretty evident that the ECB stepped in to generate that type of price action and those types of reversals.
No..they don’t have me on speed dial to tell me they’re in.
I’ve just been on the wrong side of too many central bank currency interventions over the past 40 years to know it when I see it!
30 Yr. Bonds…Macro buy stops are @ 156.05.
Bonds have been running this show for the past week. Equities are an afterthought.
IBM…needs to maintain and close over 170 for bottoming action. 164 is the lower risk buy zone.
PCLN...down 80 dollars is almost worth some upside exposure.
1180 is first cloud support. 1162 is the 200 DMA.
Let it settle out for a while.
Oil & the related names will be a big drag on the equity Indices for the remainder of the day.
IBB...resting sell stops are below 336.80. 304 is the the 200 DMA