It’s good news week. It will be a price action trade for those playing.

SPU…1251 will need to hold the first break “during the Pit Session” and then stay above to maintain strength throughout the day. 1262-66 shows early resistance. This is a level that you should not buy strength into the first time.

AUD/JPY…This is coming up into it’s Fib resistance… 8020-8050 should match up with the Spu’s.

The U.S. markets remain the tail on the dog, with the better moves all emanating during the European session.

Model Trading Portfolio…Current Holdings

No positions

Our view is that the rest of the year will be a High Volatility, Highly Technical, Rumor Driven, Time Frame, Lemming Effect Day Trade.
The question is who’s day? Right now it’s Europe’s.

Medium Term View…

We believe the political and economic risks are now heavily skewed to an all cash portfolio. The markets will become a big day trade.

30 Yr. Bonds …I’m treating 147 as the high for a long time. 143.10 now becomes our upside pivot. Closing above this level
will be short term positive the Bonds and negative the equities.

It’s good news week. It will be a price action trade early for those playing.