SP 500 E-mini Future
|30 min ES|
Depending upon how the data plays out the ES should remain over the 1545 level and under 1555 making for a decent break our or break down play.
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Currently the ES is unchanged at 1549 with immediate support at 1548 with 1545-40 as the line in sand before we trickle back to 1535. ON the upside a break over 1551 means the ES should be targeting 1555.75 highs from Wednesday. Over 55.75 = 1560 which would complete the right side of a inverse H&S on the 30 in chart.
FX & T-Complex
|30 min ZB|
Resistance in the 30 year is 143'02 into 143'08, if we get a break down ES should be firm vs a break out the ES will be soft.
The euro on the other hand is weaksauce with 1.2887 being the low from a high of 1.297, currently 6Eis down 0.25% @ 1.2925. 1.298 remains resistance before 1.30 1.288 is support before we are back to monday lows.
Following a better than expect PMI out of China Wednesday night the Japanese Yen jumped from 10.42 to 10.52 where it reisdes currently +.52%, this strength is keeping commodities at bay in my opinion as crude traded into a low of 92.80 as 6J traded into a high of 10.52741.
If the T-complex and currency market remains quiet we could see a very subdued day in the markets today, but this can change quickly with a break out of the ZB channel to upside or downside.
Nasdaq 100 Mini Future
|15 min NQ|
In my summation 2765 is the max we would see on NQ downside if 2776 were to fail.
Upside resistance is 2787 into 2790 with 2800 coming up next with will likely not trade unless Apple Goog and the likes rally due to the fact ORCL is down 7% @ 33.01.
|30 min CL|
Below 92.80 = 92.50 below 92.50 = 92 so on and so forth. On the upside a break and hold over 93.50 could provide the momentum to push into 93.60 resistance from Wednesday which if breached will take the price back to 93.80-94. 94.47 is the high for the week so over = squeeze/pinch into 95. Highly unlikely today.
Shares of Oracle (ORCL) are lower to 33 down from 35.765 following a weak quarterly report. Under 33 - 32.72, under = 32. ORCL stands to reverse over 33.50 back to 34.
Apple (AAPL) shares are unchanged at 452 with resistance at 453 into 458 from yesterday morning's pinch high off the open. 460-460.96 remains the upside line in sand. A break under 449.95-450 off the open will likely spell a cascade into 445.
Shares of Yahoo (YHOO) are higher to 22.50 after its shares were upgraded by Oppenheimer. Resistance is @ 22.50 before 22.60 comes into play in the pre-market.
Watching shares of RadioShack (RSH) today for a break over yesterday's resistance of 3.87 for a move into 4 if 3.75 can hold as support off the open.
|R1: 1550.50||R1: 2780||R1: 93.50||R1: 945|
|R2: 1555.75||R2: 2787||R2: 93.75||R2: 948|
|S1: 1548||S1: 2775||S1: 92.50||S1: 942|
|S2: 1545||S2: 2765||S2: 92||S2: 940|
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