Uncertainty ahead of tomorrow's jobs data. New highs in pre-market/open (better than expected initial claims) failed as participants didn't want to get ahead of themselves. The DOW 11000 psych level was tested on the open, but the $USD was bid higher and gold, oil, and commodities sold off. The choppy pullback and strong retracement off the lows implies limited selling pressure. However, at the end of the day we have either a hammer or a hanging man. Employment data at 8:30 EST, will set tone.
Emini futures trade. Short on failure to hold support. Partial into next support level (1st tick reading below -1000) and exit balance as price extends 38% and 2nd tick reading below -1000.
The $USD caught a bid after gapping lower on overnight weakness. Participants were quick to take profits in gold/silver, oil, and commodities. Minor support level in $USD coincides with more significant levels in GLD and OIL. Not sure we're going to get a big lift in the $USD from this level, so we may see higher GLD and OIL in the short-term.
Corn setting up an ambush, could weaken Ags.
Watching Broker/Dealer for B&B.
Banks basing at key technical level.
Emini futures trade. Short on failure to hold support. Partial into next support level (1st tick reading below -1000) and exit balance as price extends 38% and 2nd tick reading below -1000.
The $USD caught a bid after gapping lower on overnight weakness. Participants were quick to take profits in gold/silver, oil, and commodities. Minor support level in $USD coincides with more significant levels in GLD and OIL. Not sure we're going to get a big lift in the $USD from this level, so we may see higher GLD and OIL in the short-term.
Corn setting up an ambush, could weaken Ags.
Watching Broker/Dealer for B&B.
Banks basing at key technical level.
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