USD/JPY…the Yen needs sustained and closing price action below 90.28 (above 110.79 futures)
to signal the start of a bigger change in the Yen crosses.
USD/CAD…101 ( 98.89 Futures) is the level to monitor for a potential weekly double bottom in the Futures.
Silver…30.60 is the 200 day. Closing under the 30.48 .618 fib is price negative.
29.75 +- 10 is the lower end of value on the Point & Figure Charts.
30 yr. Bonds…the 143’s give rise to the possibility of a double bottom on both the Long and short term Point & figure charts.
Oil…For now we‘ll continue to use 95.25 are our short term pivot. Day traders should use this level for general market tone and bias.
General Comments…
With month end Wednesday we’ll be monitoring the Spu/Bonds for any signs of profit taking.
Silver…we definitely want to pay for this trade anywhere near the 200 day.
Model Trading Portfolio……………..
Stop Close Profit Points
Long Silver 30.50 (H) Puts
Long ANR 11+/ 12.30 Long EWZ 56.05
Short Term View…We are using Monday’s closes ( 12/31/12) in everything for our trading bias for the qtr since all trading is bench marked against these closes.Medium Term View…updated qtrlyThese are static levels that do not change.The Medium Term View will no longer be available in our general archive section until the end of the qtr.
