FX…
AUD/USD…93.50 is support. 94.85 is daily resistance and the upside pivot.
Commodities…
OIL…104.70 will act as your short term pivot. Above, buy them before you sell and see how much you get.
This level is a pivot, so conversely, if they start lower in NY trading sell before you buy. Let the market dictate your trading.
Gold…needs below 1295 to extend lower.
Silver…21.30 is support. Anything below 20.80 the first time down should be considered Bear Trap territory.
General Comments or Valuable Insight
We were stopped out of the AUD/JPY cross in early Asian trading.
Equity Indices look rich up here. We’ll sell the next rally if for no other reason than
we have a defined stop.
I have no problem trying a trade as long as I have a hard out and can manage my risk.
Short Term View…
Back to technical trading going into the end of the qtr.
Trade of the day…
Sell the Spu’s ( S&P 500 Futures) @ 1716 with a 1724.50 Stop on Close. This is a day session only order.
BUY AUD/USD @ 93.75 with 30 point stop.
This is a day session only order.
This is a day session only order.
GBP/USD…Buy the Pounds @ 159.40 with a 25 tick stop.
This is a day session only order.
Working orders…
Sell the 30 yr. Bonds @ 132.28 GTC “Good Till Canceled”
We’re looking at this as a reaction trade off the area the first time up.
We’ll be trading this very tight, looking to take 1/2 the trade off for a 20-25 tick profit.
Current Positions
Long AUD/JPY 92.15 93.20 Stopped Out