ORL Weekly levels …

Spu…1510
DJI…13,906
Nasd…2753….
Russell… 90750
Midcap 400…11,022

Platinum…1600 is support and fib matches. 1640 is near mvg avg resistance. 1654 is fib resistance. Watch for market tone. This is a risk indicator.

Silver…march options expire Monday. If you feel the need for a punt on direction, look no further.

Copper…360 will be pivotal.

AUD/JPY…96.45 is the reversal low. Sustained price action below 96 is needed for it to confirm a high
EUR/JPY…needs under 122.38 or over 124.60.

General Comments…

We’ll soon see if this was another day and half break to nowhere. The Nasd low put in a potential monthly double bottom @ 2699. Resistance is 2731-36 and a close over 2742 should be construed as price positive.

In the Currencies, Euro spiked below unchanged on the year and held.

Aussie held it’s Multi year macro pivot @ 102.15-25, which is to be expected on the first attempt into the zone. Both EUR/JPY & AUD/JPY held perfect support.

We know the lows were good enough to hold yesterday, so now it becomes about where the rallies stop today.

This is where it gets tricky. If this is indeed a false breakdown, the Spu’s have broken enough ( relieved it’s overbought condition) to complete a swing count to close to 1580.

Failure to see any Spu strength over 1513 ish and price rejection of the ORL weekly levels will indicate a much bigger high is in.

The game is afoot…be patient and don’t over trade today.
We plan on letting the market take us out of our positions.

Model Trading Portfolio……………..
Stop Close                         Profit Points
Long SDS                                               47                                      50