Quick one this morning to summarize what I am looking for this morning. Briefly….
- USDollar up to 80.75
- Gold holding tough so far at 1,361
- Euro getting a beat down at 1.3158
- Bonds trying to hold monthly support at 126 level.
Will see what happens, but I do expect the dollar to complete a cycle top this week and begin to move down. POMO continues this week and Santa’s apparently able to lift spirits enough to make up for the 20% unemployed/underemployed.
S&P (/ES) Pivots –
- R1- 1195
- PP- 1188.75
- S1- 1177
- S2- 1170.75
Trade well and trade the extremes.