Wednesday Update

Stocks and the dollar look very neutral or range bound at this point. The sp is going to open weaker and I would look for support in the low 770's early. The dollar has developed a range generally between 85.50 and 86.50. I am neutral the dollar within that range.

Gold is showing some early strenth and challenging the low 930's which has been recent resistance. I am not convinced it can make any meaningful break above this area.

Crude has been trading weak the last couple of days in what I think is an area of support under 49.50. The intra day charts just haven't shown any strength to trade against. More patience is probably in order.



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