A.M. Look 5/19/11

The yen crosses are telegraphing more risk on trading early. A weekly close over 116.94 in EUR/JPY puts in an outside reversal pattern to the upside. This area along with 123.80 in the USD/SGD ( Singapore Dollar) needs to be monitored today for follow thru (more strength) in the “risk on” scenario ( the buying of high yielding international stocks,precious metals,soft commodities and general selling of dollars)

124.13 in the 30 yr. Bonds will be a big closing pivotal level for the model!!!!!! LONG S&P 500 Futures/ SHORT 30 Yr. Bond Futures….This is the spread to watch!!! For example…if the Bonds Hold the stocks will tend to back off….

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