Financials: Sept. Bonds are currently 5 lower at 116’13, the 10 Yr. Notes 2 lower, the 5 Yr. Notes 1 higher and the 2 Yr. Notes 1 higher. Dec. Eurodollars are 6 higher at 99.110. We remain short the Dec. Eurodollars with a downside objective of 98.770. If you remain short Sept. Bonds (yesterday’s recommendations: either take profits on the short term trade or use a buy stop above the 117’14.5 level) either take profits or use a protective buy stop at 116’31. My near term objective of 115’28 has been just about met with the overnight low of 116’08. I am inclined to take the money and stand aside.
S&P's: Sept. S&P’s are currently 6.00 lower at 892.00. Near term support and resistance remain at 883.00 and 905.00. If you went short yesterday at 905.00, take the money and stand aside.
Currencies: As of this writing Sept. Euros are 15 lower at 1.3904, the Swiss 7 lower, the Yen 47 lower and the Pound 157 lower 1.6253. Yesterday the high on the Pound was 1.6600, I had recommended going short above 1.6600. To be honest, I missed this trade. If you went short anywhere near this level, I recommend either taking profits or using a protective buy stop at 1.6475. If the market trades below 1.6195, lower your buy stop to the 164.05 level. The Sept. Dollar Index is currently 31 higher at 81.19.