Please enable javascript in your browser to view this site!

Friday am Technical Video and Link to Technical Webinar from yesterday- S&P CHARTS shown

Friday am Technical Video- 5 min on S&P Structure and TNX

https://stme.in/vkROc15H79

 

 

Link to Yesterday’s Technical Webinar- 20 min long on SPX, SX5E, TNX, DXY, XLF, XLI, XLK, Crude, Gold, and broad-based look at global asset landscape

https://stme.in/Z1TiZuapkS

 

 

Premkt gains of nearly .050% which increased following the Jobs report, which many economists are calling very good at 223k v 190k. and jobless rate falling to 3.8%.    Most of Europe higher by 1.5% and we’ve seen yields snapping back higher which has been a good sign for equities given their recent correlation and relationship

Favor Tech, Industrials while still avoiding Utilities and REITS.. as these sectors likely drop on rate gains

Crude and Gold both lower, mild gains in DXY, but increasing evidence of Dollar peaking, so any EURUSD weakness should be a chance to buy in the near-term

For S&P area at 2725-8 important, over leads to 2737-41 important-  Pivot at 2711.  Downside support 2697-2701

Premkt gainers in JONE, ZUO, LULU, VKTX, TTOO, ANF, VMW, MDGL, HEAR, OPK, NUE, SNAP, YEXT.  And on downside-  BIG, ULTA, WDAY, EPE, GME, FULT, LVS, EVH, CTL, TKC

 

 

Today’s Premkt gains not affecting this structure too dramatically and puts prices up near highs of the last couple weeks.  2737-41 has importance and over would result in a larger bounce between now and mid-June

 

image003.jpg

 

 

 

S&P-   2725-28 important.. over leads to test of May’s highs.   2737-41 area that held in mid-May

image005 (1).jpg

Pattern growing more constructive near-term.. but will need a move OVER 2728  and over.. not much resistance for about 10 points over. 

 

image009.jpg

 

 

BOND yields up to key resistance similar to S&P nearing 2725-8.   So 2.904-291 important and then 2.94-5   For now, bond yields have NOT yet recaptured trend so this area important