A couple of closes above 1663.50 S&P 500 Futures, 3023.25 Nasd 100, 14.820 Nikkei
are needed for more upside.
All the equity indices are now at closing resistance.
GOOG…price action over 880 will have managers looking to buy this instrument
EUR/AUD…Protective stops should be raised to 132.40 close.
AUD/JPY…closing resistance is 99.15
AUD/USD…has to maintain and close over 96.70 for an attempt @ 97.50
General Comments or Valuable Insight
The Equity Indices and the Yen are trying to undue the technical damage done their respective chart patterns last week.
Time will tell how things will trade in the U.S. session. The best strategy today, given the
low volume rally from Friday morning, is to let things play out a bit into the Chicago openings before you get involved.
Note…we always write a stop with any instrument we‘re interested in. As the instruments become profitable those stops should be raised to your entry level so you don’t lose money.
Short Term View…
Use the Chicago openings to help guide your trading.
Use the 4/30/13 closes for your short term pivots in everything!
Current Positions
Short 30 Yr. Bonds 145.05 144.05 139