Support And Resistance

Before I we all depart for our well deserved Labor Day weekend I have two charts worth sharing with everyone – the first currently nibbling at support, the other at resistance:

Crude has been holding the 86.46 mark – thus far. Which also happens to coincide with the 25-day SMA. I am not really eager for a trade here but if you are trading it assume this to be your Maginot line.

30-year treasury futures are near what used to be NLBL – technically it expired today as we only count five days. On the hourly panel we can see how fidgety investors yet again seek refuge in treasuries. A breach of the 141’06 mark would be confirmation that treasuries are pushing higher but until that happens we are sitting at resistance.

Two more charts for the subs before the tape closes until Tuesday:
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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The daily spoos are now sitting at support – barely. Suffice to say that this needs to hold. If the lower 100-day BB breaches all hell is going to break loose.

Here’s the weekly and monthly view on the SPX – both barely holding support right now and this is not a very comfortable place to head into a long weekend. Most likely by design as a lot can happen until Monday.
[/amprotect] Better enjoy your long weekend because next week is most definitely going to be interesting 😉

Cheers,