Markets were very quiet yesterday due to the US Bank Holiday. European equities and commodities continue to trade higher. I am very nervous of being long in these markets at these levels as we are trading into huge resistance across all markets.
S&P 500
I sold the S&P yesterday at 1368 with a stop above the high of 1375. Looking for a move back down to 1355 where I will cover. If the market breaks and closes below 1350, I think there will be a bigger sell off.
Dax
The Dax continues to trade up into the 7000 resistance level. I am looking for a sell extreme in this area to get short.
Crude Oil
I shorted April Crude yesterday at 105.60 with a buy stop above 106.20. Looking for move down to 104.50 initially.
Dollar/Yen
The Japanese Yen continues to weaken so my plan is to buy Dollar/Yen on any pullback towards 79.
Eurodollar
Eurodollar continues to trade higher with 133.20 offering huge resistance. I am looking for a sell extreme in this area in order to get short.
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