Levels to watch this a.m.

SPU…1308-11

Euro…139.65…139

AUD/USD…105.04 ( last weeks low)…103.58

OIl ( 98.30) on the first rebound back up.

These are the initial support and short term tgt levels. This is a market where you want to be selling all big rallies going into month end. You do not want to press positions on weakness into these levels.

The markets will be best traded via the spreads ( SPU/BONDS…Long Gold /Short either Euro or Aussie) for protection. Metals…I like being spread for protection in the Gold because you just never know when they will sell the metals as an ATM for all other trades underwater.

One important note about price action in a bear market..( the market spends all day trying to rally and then gives it up as it did on Friday). This is a classic characteristic of a Bear market Equity trade.