Sunday, April 14, 2013

Charts for early next week

Small pullback on Friday in equities, but if I have to guess, we're going back up on Monday. Few reasons to support this line of thought:

  • We held 1580 on Friday, which also means Friday's low of 1575 in ES becomes key. 
  • Tax day is historically super bullish because people pour money into IRAs for tax deductions
  • Largest POMO day of April ($4.75 - $5.75 billion)

Some charts - 

TF, Friday's low is key, needs to hold for more upside. 

ZB hourly has gotten pretty extended, might pullback here a little? 

6A, if this current level holds, look higher, else look out below!

Havent looked at grains in a while, but this 666 level is key. 

3 other markets I'm keeping an eye on this week - Cotton, Euro and Natural Gas. Will post their charts when they setup for trades.

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