There is not much to do with the Equities and Bonds. They are range bound, being held hostage to Europe’s woes and inaction.

Sustained price action over last night and Friday’s high in the S&P will be needed for some upside follow through ( 1259-61). This would have the opposite effect on the U.S. 30 Yr. Bonds.

Aussie…104.40 is resistance

Oil…same looking chart as the Spu & Aussie…95 is resistance. The next zone of significance is closer to 97.Gold is once again shining, benefiting from the long dollar side of the currency spreads.

I.E. Short Euro,or Aussie / Long Gold…

EUR/CHF…121.20 is key support. Last week we went down here to re-test the Oct. low. This pattern shows the potential of a double bottom on a monthly basis at 121.20. Sustained price action over 125 ish would get a lot of investors exited about looking for a much bigger move.

Model trading Portfolio…Current Holdings

Long SSO

Long TBT

Long S&P 500 Futures/Short 30 Yr. Bond Futures.

All stops are as previously stated.

All trades have been paid for. Meaning, we’ve taken partial profits. Whether or not we get stopped out, we still make money.

Medium Term View…

Our medium term view is that the Equity markets have put in a bottom for the next few months at 1070 SPU. We want to see the S&P 500 Futures hold this 1206 ish level on a closing basis or we will reevaluate our view.

Metals…Looking for weakness into the first week of Nov. Then, if the technicals agree, we’ll re-purchase the metals for a longer time frame portfolio buy and Hold for our private wealth clients.

30 Yr. Bonds …I’m treating 147 as the high for a long time. We’re looking to sell big rallies for the foreseeable future. This includes hedging strategies for our private wealth crowd that have Bond Fund exposure.