Spu’s…592.50-593.30 is support.
Gold…needs over 1486 or under 1440 for a new signal. 1536-39 isgood low risk resistance. Lower retests are 1420 followed by 1400.
Silver…24.30 is resistance and the upside pivot. Buy stops are 24.80 which could lead to another dollar higher. Small sell stops reside @ 23.23.
Copper… 330-332 is the best level for price rejection on Friday. We closed right at this level putting in an ORH weekly pattern. As long as Copper remains higher on the week we’re looking for a test of 342. This is trading with in equity Indices.
Oil… remains firm over 94.60. 97.23 is the qtrly close & resistance with monthly buy stops resting above 98.15-25.
Brent Crude…105.90-106 is resistance, sustaining above will lead to 107.75
XLE..the 2013 buy stops are @80.15. The qtrly stops are 80.90-81.00.
DIG..the 2013 buys tops are @56.68. Electing those stops could lead to a test of 60.
Macro resistance is @ 62.25-63.63. Closing over this area would leave way for another 10%.
EUR/AUD…needs to remain over 127 to remain positive and sustain over 127.50 to gain any upside momentum.
30 yr.Bonds…put in an ORL day and week, now we have to see if the pattern is real. Price action below 146.26 will lead to lower prices, however, by maintaining higher on the week, we could see a retest of 147.15 and then
148.01-09.
GOOG…we were looking for 844 as long as it maintained over 800 “we got that“.
AAPL…437-442 will be pivotal. Sustaining over 452 will lead to running the 485 buy stops on the way to 500.
General Comments or Valuable Insight
We’ve left the Precious Metals levels from Friday. They are more important now, than they were going into
the jobs data. Breakouts either way will lead to new momentum players pushing the direction.
I.E. above 1490 in the Gold, everyone will panic buy… 1440 sellers will cause the new longs to liquidate as well as new short sellers trying to take advantage of a perceived breakdown.
The equity Indices and the Bonds came along way Friday in a couple of minutes and basically sat all day.
We did not wish to take a position over the weekend in EUR/AUD or the 30 yr. Bonds since it was less risky to just do the trade Sunday night if they held.
We were looking for fast move to an area we thought would be extremely over done the first time down, however
the speed and timing which it took to reach the areas were such that we decided not to fight the capital flow and wait.
Short Term View…
Use the 4/30/13 closes for your short term pivots in everything!
Medium Term View…the qtrly update is out. This update is provided exclusively to current subscribers and will not be posted on our site until mid-June for general review.
FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…)
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