Here is your morning look;
Spu’s will need to trade and stay below 2617 for lower on the medium-term P&F.
2657-62 is the lowest risk sell level.
In early 2001 the Spu’s put in a Tuesday high which is atypical and broke 400 Points.
It can happen particularly when you hear main stream media beating the drum on how wonderful and cheap everything is.
To get to my value proposition the Spu/Bond would need to trade closer to its 200 DMA.
That would minimally require the Spu’s to put in new lows for the year.
Trade it one level at a time.
It’s Wednesday and the currencies are getting oversold as are the 30 Yr. Treasuries.
BA..just reported. It would take a close over 339 to change its pattern.
It just rallied there after earnings and rejected.
Be patient and let the day set up.