30 Yr. Bonds…could extend to 142.16 and reject.
TBT…66.30 ish should line up with the 30 Yr. Futures today for first support.

Spu’s…(S&P 500)1642 is the weekly closing level we’ve been watching. Weak below and firm above.

EUR/JPY…closing under 130.10 would be negative this cross and lead to another couple of figures of profit taking.

General Comments or Valuable Insight

We’ll wait for the upside breakout to go Long the Grains and associated ETF’s again.

Given the storms that ran through the mid west it’s surprised me that this didn’t break out yesterday.

Today will be another day of two fighting capital flows. The first is now going into London’s close, and the second will start after 12:30 CDT into NYC close.

It’s always possible to see a late day melt up with month end markings in the late capital flow into today’s close.

Traders will be deciding what instruments they want to take into next week and month.

Long Spu’s / Short 30 Yr.Bond spread will be worth monitoring all day.

The Yen is on my radar today. Parity is a natural price barrier. It held the dollar on the way up and it’s acting the same on the way back down. 98.80 would be a low risk level to sell Yen and Buy dollars with a tight stop if the FX stops get cleaned out late in the day.

Futures traders ( app 101.24) is the sell level.

Let the game play out today….less is more

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!