A.M. Look 5/27/31

We got the 2 day rally in the equity indices I was looking for. The Spu printed last weeks close, which was the price action I was expecting. The Bulls would like to see a weekly close over 1335 to change the tape.

Meanwhile,since Clinton left office, the FED has seemingly adopted Steve Miller’s theme song, “You’re cash ain’t nothing but trash!” We’ll be looking today to see if we increase our metals exposure as well as the JJG to mitigate a devaluing Greenback.

143.50 becomes big in the Euro again, AUD/JPY “85.80” should be monitored on breaks. Holding that level keeps a bid tone to the equities, a violation and you’ll get the opposite effect.

Remember, it’s a holiday weekend, the closer we get to London’s close volumes will be dropping off dramatically. Everyone, including your truly, will be heading for the hills early. The computers will then take over and only the closes will matter. You’ve seen that type of low volume computer driven price action last Friday, today will likely be worse.

Current Holdings

Long Gold & Silver Via the GLD & SLV ETF’s, Long JJG

Short S&P 500 Futures form 1326…the same spot we lifted our shorts from our original sells @ 1363.

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