Friday, June 24, 2011

The Local's Take: Afternoon Commentary and Weekly Wrap-Up

Good Afternoon,
Just a quick one as I am out the door to try golfing for the first time ever. Look out cars and homes situated close to the Homestead in Midway!
BUFFALO BOUNCE in EUR/USD late in the day:

Past performance is not indicative of future results.
The SPY is still holding in on its 200 period moving average as well as a key support level showing buyers are stronger than sellers around 126.
I like commodities at these levels, but still have to be careful due to the risk of SPY slipping below 126 and causing demand to slump.

Looking backwards and forwards - tons of data was released so make sure you are staying on top of it in order to "layer" your fundamental analysis into the future.
Coming up, we have lots more data ahead over the next 9 trading days, including earnings, so if you are trading individual stocks, look out.
Happy Trading and Be Environmentally Cool
Coach Brian

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