Silver…29.83 is the weekly ORL #. Failing to recover early and sustaining back over this level can give way
to the low 28’s
Gold…1654.10 is the matching weekly ORL #.
1637.60 was the Dec. unemployment low with stops below.
30 yr. Bonds…143.25 is near term point & figure support. 142.28 is the next fib from the 2012 low. Upside…145.25 buy stops with 145.31-146.09 being the rejection zone the first time up.
This is putting in an ORL week with a close under 147.03.
Oil…91.40-60 will be pivotal near term, with 91.41 being the 200 day. Below, I would expect it to move in 80 point increments. 89.87 is the monthly cloud support matching the first swing count at 90.
Oil Inventories come out @ 10 CDT with Natgas @ 9:30.
USD/JPY…looks like it wants to test 90 (app 111 H Futures).
GBP/USD…160.65 is the ORL weekly #.
EURO…131.66 is the ORL weekly # with 129.75-85 being first support.
Below this level, the first big swing macro support is 128.30
Spu’s… (BAD #?) sell stops below 1444. Then the levels are in 10 point increments. Bulls will be looking to buy 1434-25.
General Comments…
Metals…maintaining and closing below the above ORL levels will lead to further liquidation.
The Bonds are driving the bus, so be mindful of this if you’re looking to sell dollars ( buy other currencies) unless you love a particular Bond low.
You’re playing the gap game in the Equity Indices and the individual instruments. Frankly this will not be the game to watch.
The action will be in the 30 yr. and the precious metals which are typically volatile on unemployment Friday’s.
Today is typically a day of extremes for the Bonds and Precious metals.
Model Trading Portfolio……………..
Stop Close Profit Points
Long ANR 9.40 11+/ 12.30
Long TBT 65 69
These are static levels that do not change.
The Medium Term View will be included as a courtesy for our clientele in the A.M. Look. It will no longer be available in our archive section until the end of the qtr.
