30 yr. Bonds…Macro sell stops lie @141.30 with 139.15 being the first multi- year fib support. Friday saw an ORL day. Only sustained price action over 143 would be positive.
Gold…needs to minimally stay above 1676 to go higher.
Oil…stops are below 96.50 and above 98.25
Kiwi…84.50 will be pivotal, and should provide some sense for general Risk appetite.
USD/CAD…99.60 (app100.30 Futures) will act as the near term pivot.
EUR/AUD…128.90 is the first level we’ll look for support.
Euro…134.80 followed by134.40 for first fib support. There should be some resting sell stops under 135.40.
Copper…a qtrly chart shows new strength on a a couple of closes over 38220.
a break to the low 350’s would be within the longer term channel from the 2011 low.
General Comments…
The Euro and it’s crosses are in need of a directional break, which we’re seeing.
Some of these crosses could easily correct 4 figures given the massive moves we’ve seen, not only over the past 3 weeks but the past few months.
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 1/31/13 closes as your short term pivots in everything.Medium Term View…updated qtrlyThese 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.