A.M. Look 7/7/11

The game plan for the equity indices is to sell remaining long positions this A.M., on strength the first time up into the mid to high 1340’s based off the Spu. Take your money and wait.

AUD/USD…107.70-90 ( app 106.70-80 Sep. Futures) is the macro resistance here. All new closing strength above is needed for another swing up. 106.53 AUD/USD ( yesterday’s futures low) will continue to be major support and the downside closing pivot.

Gold…has put in it’s first $10 reversal to the downside since $1,478 ( Friday’s low). Typically you get unemployment lows which prove to be the floor in prices for a while. We’ll wait for tomorrow to take another look.

Model Trading Portfolio….Current Holdings

Time Horizon Unknown

Long S&P 500 Futures & NASD 100 Futures

Long AAPL

Long EWH

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