EUR/AUD…needs a close over 130.60 for higher.
AUD/USD…102.56 is last weeks low, with recovery over 103.11 ( 200 mvg avg needed for higher) 102-102.30 is a multi year pivot zone.
GBP/USD…having failed near the 200 day mvg avg, closing under 156.80 can lead to additional weakness.
EUR/GBP…85.55-80 is the next resistance area.
Gold…P&F shows 1653 and then 1643 as the next support zones.
Silver…31.10 +- a few is P&F support. The next level down is 30.75 into the 200 day @ 30.64.
General Comments…
Money is looking for yield, which means U.S. Equities at the moment. We’re long the Nasd 100.
The money stop on this trade should be price action below 2764. The true closing stop is listed below.
Trades go directionally until they blow up and they all eventually blow up.
Individual stocks are in their own world. Review your holdings and put in trailing stops to protect your profits.
Let us know what you’re involved in and we’ll help you out with your risk.
Pay attention to your bigger time frames today.
As witnessed Thursday, these capital flows need to be monitored for pattern confirmation.
Model Trading Portfolio……………..
Stop Close Profit Points
Long Nasd 100 2756.50 2835
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.Time frame trading today.
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.