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Monthly Archives: April 2011
A.M. Look 4/29/11
It’s Month end. Monthly direction should not be faded in any instruments. We are not looking for any changes on the board. Don’t fight the flow…
JJG ipath DJ-UBS Grains
The JJG shows some support right here at 53.05 We’d like to get long this ETF at 52.15 with a 25% position. The one caveat in this trade is that we would like to see a weekly close over 53.32 … Continue reading
A.M. Look 4/28/11
Red light …Green Light trading.. The Bonds aren’t breaking and the Fed seems to have the rates where they want them. My eyes just keep taking my focus to the Aussie and the 110.30 level which is THE major Fib … Continue reading
USD/CAD…GOLD…USD/BRL
95.64 USD/CAD…a close over this level in USD/CAD ( under 104.43 futures “CAM”) will put in an outside reversal day. Gold..a close below 1495 today would put in an outside reversal day to the downside after making new all time … Continue reading
USD/CHF…Suisse…Gold…Silver
A close today over 88.56 USD/CHF (under 112.93 futures “SFM”) is very significant. This would put in an outside reversal day in the Suisse which would more than likely telegraph some severe profit taking in the metals. Watch the level … Continue reading
CAT
Yesterday 109.50 was the upside pivot in Cat which signaled more equity strength. Today this becomes critical support. A close under 109.85 today would put in an outside reversal lower pattern which is generally price negative.
A.M. Look 4/27/11
Once again the global game of chicken with the Fed is being played out in the currency markets. It’s all about the Yen crosses! Yesterday’s close in the 30 yr Bonds was unchanged on the year, right where the Fed … Continue reading
A.M. Look 4/26/11
The levels of interest today are the old high in the S&P of 1337.50 off a continuation chart. We traded there this a.m. and it is important to monitor for a potential double top. 109.50 CAT is a level that … Continue reading
Pattern Alert Silver…Oil
A close today below 45.40 will put in an outside reversal day to the downside. This is the same pattern that the oil closing below 111.10 will elect. These are late day closing #’s for price negative patterns.. You’ve already … Continue reading
Risk OFF?
$111.10 Crude is the closing level to watch. A close below this level and we’ll liquidate the rest of our long DIG position. That goes for OXY as well. Silver..46.355 would not be an unexpected print today. A close below … Continue reading