SP 500 E-mini Future
|5 min ES|
|30 min ES|
That being side i think we have upside to worry about not so much downside, but as you know anything can change on a dime; especially with AA earnings kicking off the season after the close. Currently shares of AA are higher pre-market to 8.35 from a 8.24 close Friday.
FX & T-Complex
|5 min ZB. note arrows|
Obviously a cooperating correlation helps to provide a roadmap for the day, though keep in mind the Japanese YEN weakness could also be a factor in providing a supportive bid across the entire risk complex. The BOJ announced last night they will be buying $12billion $ in long dates securities this month which sent Japanese equities soaring and the 6J lower by 1.23%.
Currently the DX is higher by 0.12% to 82.705, down from a 82.923; which is odd because 6E is also higher. This is the one correlation that is a bit off likely do the fact 6J is off so much, id like to see DX lower to help solidify crude's bid.
The weakness in the 6J has helped to keep 6E bid over 1.30, which was converted to support around 2am this morning. Watch for buy stops over 1.3044 which if coincides with ZB falling into lows below 147'15; the ES could really see a strong bid so be prepared. Obviously if 6E turns down and bonds turn up the ES will become o
|5 min CL|
Resistance i will put at 93.75 high of the session thus far with buy stops into the 94 scene of crime from the Thursday morning breakdown which led to a 2% drop. Support is 93 even below the price could easily fall to 92.50 with 92 being the line in sand before the month low of 91.91 becomes a concern.
|15 min CL|
My take final take on today is, consolidation + profit taking was the theme last week as the end of the quarter/beginning of quarter trading really distorted the tape; thus i expect some constructive action today fuel by historical correlations.
|R1: 1552.50||R1: 2775||R1: 93.75||R1: 927|
|R2: 1556.25||R2: 2780||R2: 94||R2: 930|
|S1: 1550||S1: 2762||S1: 93.25||S1: 923.50|
|S2: 1545||S2: 2755||S2: 93||S2: 920|
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