The following instruments are working on putting in outside reversal higher weekly closes. ( price positive formations) Closing #’s are as follows:

BTU…61.18

OXY…103.85

FXI… 44.19

EEM …47.84

EWZ….73.61

BHP…95.66

Russell…839

The picture being painted is a very big RISK ON picture from these patterns if they are completed.. It’s a long way to the close!,however these will be important indicators. Flipping through many of the big cap high yielding stocks, many of the patterns are trying to turn more positive. Again the match for me in the S&P will be a close over 1335, which will be a higher close for the past few weeks.

Pay attention to the Aussie @ 106.60 ( 106.40 futures), a close above here signals more Risk On and a weaker Greenback. We will add to our Gold position today with a close over 1532. We did sell a partial position in the SPU yesterday and the stop remains “1335 stop close”

Have a great weekend!