Quite a Mix


ES is trading in a pretty nice range of consolidation. anything long term I am waiting for it to make up its mind. Might be time for a few condors. I have a hard time playing the sideways channels. I would rather look for confirmation from resistance to support this week.

USD/CAD I think this is going to test the highs from March of 2009. Keep the averaging in strategy. Next short will be placed when the 1.30 is dealt with one way or another.

CL Back above 50. May make a run for the 70 mark. Sure is overdue for the correction after this last huge move. Watch the 59.30 area for a stall. before heading to the 70.00

Gold This is doing pretty much as planned. I do not like that it went below the 1239. Look for it to go into the 1225 area before turning. We shall see.

S&P Looking for Support


ES is going sideways as discussed in the last post. No changes. Watch the 1961.50 area to hold support. No entries at this time.

USD/CAD I am tracking this due to the many Canadian friends I encounter each day. I see this holding below 1.3062 for a while. Might be a good time to buy Canadian dollars. Average in anyway. By a half position with the anticipation that this will hold and pull back to the 1.18 area.

CL Oil is trying to find support. I feel that it wants to go lower. It needs to get back above 50 and stay. If not I look for it to test this spot as resistance and go lower.

GC is going to pull back to around 1239 before it try’s to make another run.