Good morning. The S&P's are slightly lower after turning mildly bearish Friday from the standpoint that the Buy/Sell Zones shifted to lower levels. Looking at both the Daily and Weekly charts suggests a move down to 865-850 before attempting any serious move back towards the recent highs. These charts are formed within the context of a very bearish Monthly chart. An early move to 894 would most likely be a sale this morning.
Ten year notes still are in a sell zone above 125'12 but there won't be any early sell signal until 126ish.
The dollar index is also in a sell zone and may develop a sell signal near the overnight highs. Same trade in reverse exists with the EC, SF and BP. I'll come back with specific levels asap for those markets.
Crude, gold and other commodities are falling significantly this morning but no trades for now.
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