Friday Update

The sp has been much stronger than I thought it would be. I think it's in a short term range of 876 to 846 now. I've thought you could buy weakness and sell strength but the weakness has been very shallow and the strength has been impressive.

Today's strength in the dollar index may be the beginning of a bigger move, a possible break out. First objective would be to 87.60.

I'm less confident crude's move this morning has much behind it beyond today. 50.90 should be daytrading resistance.

Gold is somewhat making up for my mistakes in the sp. Without a recovery today, I would expect another 20 or 30 dollars on the downside.

There is a substantial risk of loss in trading commodity futures, options and foreign exchange products. Past performance is not indicative of future results