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SP 500 E-mini Future
|15 min ES|
A very orderly overnight session greeted traders this morning with the ES making a high over 1550 resistance at 1552.75. You can thank the 30 year falling 0.30% steadily throughout the night/morning for the smooth sailing.
Suport in the ES we will put @ 1545 on a 5 min time frame with 1553 as resistance with buy stops lingering over 1555 and sell stops under 1545. Wait for the break if you are looking for a scalp idea keeping in mind we have the FOMC meeting announcement at 2:00 pm ET today.
FX & T-Complex
|30 min ZB|
The 30 year bond is lower to 143’04 down 0.35% after 143’31 resistance held early Tuesday evening likely propelled lower by a weak Japanese yen vs the dollar. A weak yen & strong aud/jpy cross = a strong risk complex historically.
6J is lower by 0.51% to 10.446 with 10.46 as support, under = sell stops into 10.40, if this occurs risk will be gobbled up even quicker.
Ironically the DX is lower @ 82.965 -0.35% as well which makes the DX/ZB the correlation de jour.
Current support is 82.90 with sell stops under 82.85, if the DX makes a low you can expect Crude futures to move back over 93.50, if the DX bids back over the 83 metric CL cold easily move back to 93 resistance turned support.
The euro cross is higher by 0.50% to 1.2949 up form yesterdays low of 1.2852. This puts 1.30 the big round upside resistance metric which if breached to upside, risk will become further bid.
Nasdaq 100 Mini Future
|30 min NQ|
Aided by the likes of Apple and Google NQ futures are higher by 21.50 points or 0.77% to 2801.00 with 2803 as the high to watch for buy stops over into 2810. Support for the NQ is @ 2790.05 after 2780 resistance from last evening converted to support late Tuesday night.
If all the NDX 100 components show up to the game today we could finally see 2810 trade with conviction and perhaps move into some new territory for 2013.
|30 min CL|
Oil has risen steadily throughout the night and morning to a high of 93.50 as the DX and ZB slide lower. 92.36 is the line in sand which held as support last evening which provided the base for a opposite yesterday’s dump reactionary move higher.
Resistance is 93.50 with buy stops into 93.75 into 94 if they were to be popped though i think we will see relenting in crude back to 93.25 as NYMEX games start promptly @ 9:00 am ET.
The high to watch for from yesterday is 94.47, if we get to this metric any type of trade over whether it is a pinch or gasp of air, will be very bullish for price. THOUGH if the DX turns around and starts bidding along with the ZB crude will have difficulty holding the up trend.
Following upbeat quarterly results, shares of Adobe Systems (ABDE) are higher to 43 up from a 40.75 close Tuesday. 43.57 is resistance to watch for buy stops over into 44. under 42.90 = 42.
Apple shares are higher to 456.52 up from a 454.49 close Tuesday. The 460 metric remains the resistance to watch because if broken to upside and converted to support the shares stand the chance to rice 5-10 points.
Blackberry shares are higher to 15.86 with a pre-market high of 16.15 being resistance. 15.75 is support which i would like to see hold which will boost the shares over 16.15 into 16.50+. Though the nature of BBRY lately has been to fade the pop, maybe this time will be different, but do not count on it.
|R1: 1555.50||R1: 2805||R1: 93.50||R1: 946|
|R2: 1558.75||R2: 2810||R2: 93.75||R2: 949|
|S1: 1548||S1: 2800||S1: 92.30||S1: 944|
|S2: 1545||S2: 2795||S2: 92.15||S2: 942|
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