The markets reversed direction yesterday. Equities ignored its key day reversal on Wednesday by rallying along with a small rally in commodities. Yields were also higher.There is not a lot of economic news out today to help resolve this uncertainty. The ongoing European saga keeps raising more questions than it answers.
S&P 500
The S&P hit my sell level yesterday and I am short against a closing stop of 1378.
Euro
The Euro broke 1.33 and is now trading at 1.3250. We have good support between 1.3200/1.3230 and I have gone long here with a stop below 1.3200 looking for a retest of 1.3300/1.3320 where I will cover.
Gold
Gold still looks heavy after its 4 per cent sell off on Wednesday. I plan to sell on any rally to 1730 and I will keep my buy level the same as yesterday
Bund
The Bund has had a nice sell off from the 140.20 level and I have lowered my stop to 139.74 which is todays high.
Dax
The DAX is in my sell zone and I am short here with a 6980 stop
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