Market tells

Copper…38050 is the 200 day, a close below should be deemed negative price action given the double top in the Spu’s.

SMH..a close below 33.98 in this ETF puts in an ORL day which is price negative the board.

OIL..hit it’s upside destiny #’s @ 100.50

AUD/JPY…failed to encroach on the all important 84.00 level which is needed to confirm more upside follow through in this cross as well as the stock indices.

Platinum…continues to reject the 200 day

We’re now into the back and fill on the weekly charts.

Spu…1341.50 is needed to be violated for further downside. Most short term guys took a stab at selling everything this A.M.

It was a great low risk reward play given the matching price rejection across so many instruments…If they’re proved right we could see another attempt at 1332-1329.50 Spu.

New highs in the Spu’s will have these shorts running for cover. The aformentioned markets are trading in cinc.

Pay attention to your time frames today…this capital flow is about done, with London’s close approaching.

 

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