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Pro Tips
IYT…Transports
The Transport s and Financials led the up. This is a go or no go level in the Transport s. 108.08-107.66 is the bear trap level the first time down. Currency traders…it’s a Risk Off/Risk On paradigm. Act accordingly.
DIG & XLE ETF’s
DIG… maintaining and closing above 55 is a new breakout. XLE… shows sustaining above 78.80 is needed in this ETF. Natgas… 3.93 is the Qrtrly ORH #. Natgas is not something to lead off on. Look to these ETF’s for … Continue reading
Silver
The weekly Silver level is 29.35. Maintaining and closing over this level would leave room for another dollar of upside.
AUD/NZD….EUR/AUD
It’s earlier here… AUD/NZD…is into support with 124.88 being the low end of the support area. EUR/AUD…is right into support @ 123.70-90. The above are exit zones..not levels to press direction
A.M. Look 3/21/13
Nikkei…from the 2007 high to the 2009 low, this is up 50%. We caution investors to not buy strength until you see a couple of closes over 12700. Confirmation of another leg up is needed with sustained action over this … Continue reading
A.M. Look 3/20/13
Oil…needs to maintain over 93 for a re-test of 94. Resting sell stops remain @ 91.70. USD/JPY…95.05 will act act a pivot. Price action around that level will dictate how the crosses trade. Euro…130.00-20 is resistance and the closing upside … Continue reading
EUR/JPY
122.40 is the closing macro pivot. There are resting sell stops @ 121.55. There is not much for the next couple of figures down. Remember…selling weakness in EUR/JPY or AUD/JPY at these levels is not recommended! When these go down, … Continue reading
Midday Missive
VIX…resistance is 15.15 Bunds…144.86 is resistance…all new closing price action over 145.15 is needed for higher. Euro…is into the 200 day. We’re minutes away from London’s close and the end to this capital flow. Tighten up your risk parameters.
Grains…JJG
Soybeans…these need recovery back over 1424 on a weekly chart to have put in a convincing low. Corn …is trading at the 200 day. This is trying to break out to the upside, however we still need a couple of … Continue reading
A.M. Look 3/19/13
Spu’s…these need to go 1554 bid and close over 1563 for higher. Sustaining under 1543 can see a break to test the lows of Sunday night (1529-31). Oil…94.00 +- 10 cents is current resistance and the short term upside pivot … Continue reading