A.M. Look 3/24/11

Spu/bonds are still going after the rejection of the old continuation double top in the Bonds of 122.08 from earlier in the year ” This was the # that the March contract took 2 months toget over. It’s has proved formidable once again. “1304-07 will be a closing pivotal area today for the SPU’s. A close above and we’ll continue up into the first week of April.

Currencies….The Aussie is right in the middle of the macro pivot zone. Euro held Macro support overnight at the 140.30-50 Zone.

OIL…107 becomes the level for tone here. Can it double top and re-trace or is this on the same trajectory as the metals into qtr. end?

In short it will be another price action day that will need some time to set up.

Many of our Private Wealth clients used yesterday’s weakness to pick up some of their favorite names for a 2 week trade.

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