The Local's Take: Afternoon Commentary

Good Afternoon,
Since I last wrote, we have had the Fed, Bernanke's conference, Greece and unemployment claims. Lots to digest. I have been warning you of this for weeks - lots and lots of data to constantly digest and if the Fed is out of the picture, then economic data matters and the markets will react to it. I am not sure if the Fed is totally out of it, but at least they are in the background as of now regarding QE3.
Next up, we have earnings, durable goods and GDP and then a two busy weeks around the July 4th holiday.
Overall, the forex markets saw smaller volatility during the USD session until late, when the equities went from down 231 to down 78 to down 125 to down 58. This gave us DOUBLE FALL LINE trades in the AUD/USD and the EUR/USD:

Past performance is not indicative of future results.



Past performance is not indicative of future results.
In last night's webinar, I discussed trends. In two weeks, we will go over support. For all of you longer term traders, check out the support level in the GBP/USD:

Past performance is not indicative of future results.
Staying on the support theme, 1260 in SPX is still our level:

Past performance is not indicative of future results.
Moving into our socially responsible play, but sticking with support, let's look at FSLR:

Past performance is not indicative of future results.
You will like this segway. From FSLR and solar to oil! How do you like that. I like oil at 93 and I liked it even more at 90 - especially to get paid to be in it. Selling puts on USO doesn't feel good but the money in my pocket does!

Past performance is not indicative of future results.
Look for a week in review tomorrow.
Happy Trading and Be Environmentally Cool

Coach Brian