Big Picture Day
Nobody said this would be easy. What are we talking about? We are talking about the primary bounce after the Macro Down signal given last June on Stocks. Points to consider now are:
- We are seeing the dollar now testing its support area at 94.57 (we have been outlining the 95.50 area as an area where we would be adding to our long dollar position), today’s low is 94.70.
- T-Bonds have declined to near the 160 major support area.
- Gold continues upward to the 1450 resistance area.
- Oil is bouncing up, to the December 2015 low 10.52 on the USO oil ETF, todays high at 10.39.
- Bottom line, we see yesterday and today as key days in the big picture.