Welcome to this months episode of Full Moon Trading,coupled with the mid week shuffle.

1204 S&P 500 is a big closing level on my work with macro stops presently resting over 1214.50. Closing above this level is Bullish Equities..

Euro…138.40 ish is half way back for this entire move…( when Equity markets are in”Risk On” mode..currencies are strong against the Greenback) Trade your technical levels and see what you get.

Aussie & AUD/JPY are attempting to put in outside reversal days to the upside with a close in the AUD/USD over 100. ” Parity to the Dollar”… This is a big time “Risk On” Indicator!

Day Traders should trade their technical levels to see what type of price rejection you get off the levels and take what the market gives you.

Longer term Investors…

We added some risk on exposure yesterday via the EWZ ( Brazil). The reasoning was two fold; I missed the grains early ( this is a surrogate grain long) If we are indeed back in full rally mode in world Bourses, Brazil was down more on a relative basis.

Buy what’s cheap and most beaten down when bottom fishing…They have the most to rally when we go back up.

More than likely, we will wait until tomorrow to add Risk On assets to assess the price action. We don’t like to chase.

Model trading Portfolio…Current Holdings

Long EWZ ( Brazil)

The majority of our clientele have Risk On exposure