SP 500 E-mini Future
|30 min ES|
Primarily based on the fact the bonds did not make a new weekly high, the ES is higher by 3.50 points to 1542.50 with support being 1540 and 1535 line in sand.
As for today, the ES stands to reverse over 1544.75 with a 1547.50 target over if the price does not pivot back down right at the pinch; something we have been seeing lately. ON the other side below 1535 = 1529.75 which if 29’s fail it is back to 1520.
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FX & T-Complex
|30 min ZB|
Bonds are higher with the dollar lower, at least one correlation is still in tact; ZB is higher by 0.17% while the ES is higher 0.20%.
Support in the 30 year is 143’12 with resistance at 143’31 which was Tuesday’s high which when the price got near a 1k lot of 144 ZB would flash scaring people off the bid.
It worked, whether or not they wanted that 1k lot to trade or not is still up for debate.
The DX moving lower has helped CL hold its low of of the session at 92.33 for a push back over 93 to 93.02; but again resistance held and CL fell back 92.83 as DX held support on lows @ 82.685.
The Euro is higher by 0.26% to 1.2957 with the high being 1.2975 to watch for buy stops over into 1.30. The strong’ish Euro is aided by a weak 6J which as faded its gains from thursday night; a weak 6J helps the commodity market.
Nasdaq 100 Mini Future
|1 hour NQ|
The NQ is higher by a similar margin of 0.23% or 6.25 points to 2776 following 2763.90 hold as support early Friday morning.
Resistance is 2778 with buy stops lurking into 2785, any attempt at a reversal over this resistance will only come if Apple and the other large cap components of the index all show up to work today.
A break over 2778 = 2785-90 a break below 2764 – 2755 so play accordingly.
|30 min CL|
Oil like mentioned above held 92.33 as support before bouncing back to the 93 level as the DX and bonds relented.
I do believe the DX’s influence on CL is getting less and less with day the DX remains near 83 because CL continues to maintain 92 area.
ON the upside CL needs to pinch over 93.08 and hold for a push back to 93.44 which puts yesterday’s highs/resistance back in play for a pinch of 93.50. Downside we have 92.50 as support with sell stops into 92, which if fails 91.84 is yesterdays low.
Shares of Apple are slightly higher to 454.52 up from a 452.73 close 454 needs to hold or it is back to 450 off the open. Do not count on Apple playing nice, it never does; but if it were to trend higher off the open it puts 456 as resistance before 460.
Shares of Nike (NKE) are higher to 57.85 up from a 53.60 close, following a upbeat quarterly report. 58.31 is resistance which if broke to upside puts 59-60 a a target if you were to lean on the 57 level as support.
Micron (MU) shares are higher to 9.77 up from a 9.07 close following upbeat earnings yesterday after the bell. This puts 9.88 as resistance with 10 the target if you were to lean on 8.70 as support off the open.
|R1: 1544.50||R1: 2780||R1: 93||R1: 942|
|R2: 1550.75||R2: 2790||R2: 93.33||R2: 944|
|S1: 1540||S1: 2773||S1: 92.85||S1: 940|
|S2: 1535||S2: 2763||S2: 92.60||S2: 938|