Markets finished the week with more caution. In quiet trading, Equity Markets dipped into the red, Commodity prices eased and Bond yields fell.
German Retail sales were very weak at -1.6 percent.
S&P 500
I am still short as the market is now trading at 1363. I have lowered my stop to 1374 and I will cover at 1354 and then reset shorts on a closing break of 1350.
Dax
The Dax has had a nice sell off from the 6950 level. I am taking profit here at 6840 and I will go short again on a close below 6850 as this will be a short term sell signal.
Bund
I was stopped out at 139.74 for a stop profit on Friday and I will reset shorts from 140.70 – 141.00.
Euro
The Euro is trying to hold support at the 1.32 level. If the Euro trades back through 1.3180, I will cover and stand aside.
Gold
I still want to buy between 1650/1670 with a 1640 stop.
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