Markets will be quiet today because it is Mayday and most European markets are closed. This is also a short introduction as I am in transit this morning however I have set out my current open positions and plans in the markets below.
NOTE: All comments below refer to the June Futures Contract in each instrument
S&P 500
In line with yesterday’s plan, I went long at 1392 and I am targeting 1399 whilst protecting myself with a 1387 stop loss.
Euro/USD
The Euro’s refusal to go lower continues however it dipped enough to allow me go long at 1.3220 as planned. I have set my stop at 1.3180 and I would be happy to take profit at 132.60.
GBP/USD (Cable)
I am still flat here waiting for the shorting opportunity that I outlined in yesterday’s update.
USD/JPY
My buy order was hit at 79.95 yesterday and I am long, targeting an exit at 80.50 with my stop set at 79.60.
Bund
As I mentioned yesterday I am sitting on the sidelines until I can get a better read on this market.
Natural Gas
I am still in my long position from last week at 1.93. This is a slow burner and with the market trading around the 2.30, I have decided to lock in more profit by moving my stop up to 2.20. I will continue to sit this one out as I see it as a macro position.
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