Financials: Bonds are currently 4 lower at 117’28, the 10 Yr. Notes 2 lower, the 5 Yr. Notes 2 higher and the 2 Yr. Notes unchanged. Dec. Eurodollars are 2 lower at 99.120. We remain short the Dec. Eurodollars. I still like the short side of the Bonds despite yesterdays rally. If you remain short I will be looking to cover the position below the 116’25 level.
S&P's: Sept. S&P’s are currently 3.00 lower at 913.00. Yesterday the market traded through near term resistance of 905.00. Support is currently 896.00 and resistance 923.00. I remain on the sidelines.
Currencies: As of this writing the Sept. Euro is 80 higher at 1.4047, the Swiss 70 higher, the Yen 70 higher and the Pound 106 higher at 1.6476. For any of you who went short the Pound earlier in the week, my recommended buy stop of 1.6400 was hit over night. I still like the idea of trading the short side of the Pound above the 1.6600 level. The Sept. Dollar Index is currently 53 lower at 80.16. I am on the sidelines.