Monday Wrap

{+++} For the day the SPX/DOW were +0.10%, and the NDX/NAZ were +0.35%. Bonds gained 3 ticks, Crude slid $1.20, Gold rallied $37, and the USD was lower. Medium term support remains at the 1680 and 1628, with resistance at the 1699 and 1779 area. Tomorrow: the FHFA housing index at 9:00.

The SPX looks a little stretched, so a small pullback at some point soon wouldn’t surprise me. 1699 and then 1700 (optically big), will be resistance to watch. Breaking through that level with volume, could build on the uptrend.

See you in the morning.


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