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Major Lines In The Sand

By  |  Market Overview  |  Sep 11, 2013 02:14PM GMT  |   Add a Comment
Major Lines In The Sand
By   |  Sep 11, 2013 02:14PM GMT
The bearish case for September is still intact, but pretty badly damaged by the six trading days we’ve had thus far. I’m actually kind of glad the whole “Syria” thing seems to have settled; the last thing this market needs is something else muddying the water. Now we can all obsess about next Wednesday.

These are the levels that I think represent important lines in the sand for the big indexes:
The Nasdaq
The Nasdaq

The Dow
The Dow

The S&P 100
The S&P 100

Rate Watch
I would also point out that the continued ascent of interest rates doesn’t appear to be a one-day wonder. We are making continued headway above the red trendline and if TLT really starts to tumble this week, the Fed is going to have an ugly problem on its hands.
The 10-Year T-Bill
The 10-Year T-Bill

Portfolio Exposure
I’ve bumped up my portfolio commitment from 66% to 80%, with particular exposure on the short side in the real estate sector.
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