US STOCKS: Late Equity Roundup: Nearing Lows For Wk, No Month-End Support Yet
About the time when things can get interesting: heading into last couple hours of month-end trade going into the weekend (not to mention more earnings next week, FOMC policy annc next Wednesday).
- SPX eminis continue to extend session lows: ESM2 -109.0 (-2.56%) at 4174.25, below Thursday low, but still off late Tue low around 4138.0. Week’s lows reinforced bearish conditions and confirmed a resumption of the bear cycle w/ initial key support for SPX at 4136.75 Low Apr 26; next key support level at 4129.50 Low Mar 15.
- Month-end factor: In the off chance of a reversal, initial resistance defined at 4303.50, Apr 26/28 high. A break of this hurdle would signal scope for a stronger corrective bounce and expose 4355.50, the Apr 18 low.
- SPX leading/lagging sectors: Materials (-0.76%), Industrials (-1.49%) and Consumer Staples (-1.69%) underperforming the least at the moment.
- Laggers: Consumer Discretionary (-5.34%) weighed down by weaker Amazon (AMZN, -14.23%), ETSY (-6.27%) and Expedia (-4.24%), buffered slightly by Autos (+0.55%) w/ Tesla leads +1.17%.
- Meanwhile, Dow Industrials currently trades -582.67 points (-1.72%) at 33339.52, Nasdaq -384.5 points (-3%) at 12488.29.
- Dow Industrials Leaders/Laggers: Honeywell (+6.71), Merck (+0.18). United Health Care leading laggers (-9.65).
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US EURODLR OPTIONS: Block, Quarterly Put Ratio Spd
- 10,000 Jun 98.12/98.43 2x1 put spds, 6.5
WHITE HOUSE: White House Presser Beginning Shortly
The daily White House presser is due to begin shortly. It will again be hosted by White House Director of Communications Kate Bedingfield.
- A livestream can be followed here.
USDJPY TECHS: Corrective Pullback Extends
- RES 4: 126.26 3.382 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
- RES 3: 125.86 High Jun 5 2015 and a major resistance
- RES 2: 125.28 High Aug 12 2015
- RES 1: 123.20/125.09 Intraday high / High Mar 28
- PRICE: 121.94 @ 16:33 GMT Mar 30
- SUP 1: 121.32 Low Mar 28
- SUP 2: 120.95 Low Mar 24
- SUP 3: 120.00 Round number support
- SUP 4: 11942 20-day EMA
USDJPY is continuing to pull away from Monday’s high of 125.09 and has traded through initial support at 121.97, the Mar 28 low. The move is considered corrective and is beginning to allow a recent extreme overbought condition to unwind. An extension lower would open 120.95, the Mar 24 low ahead of the 120.00 handle. Key resistance and the bull trigger has been defined at 125.09.
