Market Update 1-10-12

Futures trading involves risk of loss and is not suitable for everyone.

Member's Login

Submitted by Steve Meyers

SPX is getting closer to our 1300 red alert area. This rally is getting old in the tooth and we are in a time frame that can usher in a reversal at any time. Next week would be the perfect turn but perfection can be allusive in these markets so pay attention here. I am going to short 1/2 position at 1300 and will wait patiently for the other half. Bonds have hit an important top but it is possible that we make 1 more rally attempt and test the high. The Euro is dead man walking and we will see if a plunge is in the cards sometime soon. The dollar will be up next after the euro. Gold and silver are accumulations between now and end of Feb. BUY and HOLD physical metals.