Euro… stops are below 127.52. 126.60-80 is the next significant support.
128.67-88 is daily resistance.
GBP/USD…needs to sustain either above 152.50 or under 151.20 for new direction.
USD/JPY…93.80 ( app 106.75 futures) is the level that the Yen has to sustain over for follow through for another 50 points to 107.25. All new closing strength over this level will be needed for another move up.
AUD/USD… 103.83 is the 200 day mvg avg and near term support. This has to hold to prevent further weakness. All new closing strength over 104.30 is needed for another attempt at 105. (Futures are trading app 60 points under cash)
Spu’s…need price action below 1558 for a lower retest and close below 1546-47 for confirmation of a high.
Nasd 100…had one of the smallest qtrly ranges since 2007. 2792-94 will continue to be problematic zone.
Oil…buy stops are resting over 9815-25. Sell stops are @ 96.26 which, if elected, leave room for a break to as low as 94.75 without substantively changing the Point & Figure pattern.
General Comments…
Let’s see if there is any new Equity buying that can sustain a rally after 9 A.M. CDT
Short Term View…
Trade your levels and forget the news. The news will be after the fact. Let the price action be your guide.
It’s the first day of a new qtr., use the 3/28/13 closes for your short term pivots in everything!
Medium Term View…the qtrly update is out. This update is provided exclusively to current subscribers and will not be posted on our site until mid-June.
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