Please enable javascript in your browser to view this site!

Equities stretched and very close to stalling out in the short run

Mild losses across the globe, where Japan is down by 1% and we're seeing a bit of reversal out of the US Dollar vs many majors as WTI crude and gold both show fractional gains-  Treasuries continuing recent selloff and upside for yields should be capped near 2.51 in the short run.  In equities, Key for S&P will be 2332-3 and one should look to sell into that, whereas 2323 marks support of the past week.  Until this level is taken out, one can expect a bit more upside potentially up to this 2333 area, but should be on guard for any evidence of trend reversal at this point which I think should happen sometime this week. Premkt gainers in CGA, AGEN, STNG, GM, FRAC, DRYS, FCAU, while GEVO, PFLT, PLX and PLKI all down -  Let me know if you have any questions