Welcome to the mid-week shuffle…
GOOG…848-850 is the level to use for a contra trend trade. We’re looking at this level
as a spot to match up with a high in the Spu’s for a reaction trade the first time up.
Spu’s…needs under 1537 for any serious profit taking to materialize.
GBP/USD…needs to sustain under 150.35 for more downside. This is P&F support.
FBTPH…(Italian 10 yr.)…110.76-96 is resistance. We don’t see much over 111.20 with out further price action.
EUR/AUD…126.77 is last weeks low. All new weakness under this level is needed for further downside.
AUD/USD…103.00-14 is mvg avg. & Fib resistance.
General Comments…
Everybody is loaded up one way again.
Chasing new momentum highs today in the Equity Indices is not recommended.
Be patient and see how the early trade shapes up.
If we see the GOOG level, Day Traders can take the trade with a couple of dollar stop.
Model Trading Portfolio……………..
Stop Close Profit Points
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 2/28/13 closes 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., however new clients will receive a complimentary copy.