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Monday, April 18, 2011

Update April 18, 2010

Preparing for big transitions, watching markets lightly:

SPX

  • Big gap down on es and SPY today
  • Bearish momentum is strong, last two days of last week higher lows
  • trend still in tact - strong price targets around 1250+ range
USD
  • Perhaps the dollar correction came faster than I expected
  • I would like to see most of the majors correct another 100 to 200 pips more (room for shorting majors vs USD)
Crude
  • continued consolidation above new support
  • moves inline with dollar strength today

Continue to maintain same expectations from Here


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