Silver…32.50 is resistance and new action over this level is needed for higher.
30.60 + a few is support and the 200 day mvg avg. This has to go 31.10 sellers for a try lower.
Gold…1700 is the upside barrier with stops above. Maintaining below 1662 is needed for a downside bias.
30 yr…buy stops are @ 144.02. 144.30 is the next Fib and mvg avg resistance.
Macro sell stops lie @141.30 with 139.15 being the first multi- year fib support.
Dream Trade of the day….we are placing an order to Sell the 30 yr @ 145.20.
AUD/JPY…a close below 94.24 would be needed to break the trend.
CAD/JPY…90.24 is the # here.
USD/JPY…94.16 is the first macro fib resistance in the Yen.( app 106.20 futures)
The Yen seems to be following a 5 year retrace from the 2007 Dollar low which could ultimately lead to
parity in the Yen.
Oil…96 ish is the bottom of value on the point & figure chart. All new strength over 98.25 is needed for higher.
General Comments…
Per usual, today is a day of extremes with Bonds and metals generally the most volatile trades.
Pay close attention to the Yen crosses and the technical levels of the individual pairs.
This has been the game in the currencies and will continue to be.
Model Trading Portfolio……………..
Stop Close Profit Points
Long Silver 30.50 (H) Puts
Long Feb AAPL 550/575 call spread
FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…)
Everything I’ve written for the Month will appear.
Short Term View…We are using Monday’s closes ( 12/31/12) in everything for our trading bias for the qtr since all trading is bench marked against these closes.Use yesterday’s closes 1/31/13 as your short term pivots in everything.Medium Term View…updated qtrly
These are static levels that do not change.
The Medium Term View will no longer be available in our general archive section until the end of the qtr.
