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Trading Plan June 10, 2011

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June 10, 2011 – Comments (0) | RELATED TICKERS: MHLD , SPY , EPB

Futures are currently down moderately this Friday morningExport Prices ex-ag came in at 0.5% vs 0.9% priorImport Prices ex-oil came in at 0.4% vs 0.6% priorAUD/USD continues to struggle with the 20/50 day moving averages as resistance - continued selling pressure until we get a close above the 1.063 areaEUR/USD went through a large sell off yesterday and it looks to continue that run this morning - next support level at the 50 day moving average (1.441)USD/JPY continues to consolidate around the 80.17 support level - still waiting for a breakout or break downTNX was able to fill the gap it created yesterday and held onto its strong gains creating a bullish engulfing pattern - needs to get back above 30.33No POMO today - they release the new schedule 1pm CST - will this be the last schedule??Bulls were able to put in a good run yesterday bringing this market out of oversold conditions and finally ending the consecutive down daysMarket held resistance at 1294 which will be the next key level for the bulls before they tackle 1300If the bulls hope to have a positive week and make it so we don't have 6 straight down weeks we need to see a close above 1300Bears need to use this run up as a time to enter more short positionsHere are the stocks to watch today.

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