I am traveling for the better part of the day.
Early observations….1085 spu is a short term double top on the
point & figure charts….This is the level we broke from on Friday….
Oil….77.44 is a a# worth watching vs. September oil for market tone.
Aussie…88.70-80 ish has been huge Fib resistance for weeks..
A close over this area will lead to more upside in the Aussie and I presume more U.S. equity strength.
Euro…we are at short term support at the 128 area mentioned yesterday…
Price action back over 129 will ( really above 129.30 ish unchanged on the week) to
make euro bears go back into hiding. Once again when the Euro weakens the spreaders come out to play.
Short euro/ long Gold