No Housework Friday, page-5

OVERNIGHT AND LEADS:

PROS:
Oil: Well up.
Banks: Well up.
Transports: Well up.
Euro Stoxx: Moderately up.
US indices: Slightly up.

CONS:
Iron Ore: Well down, and broken through support.
Industrial Metals: Well down.
Gold: Slightly down.
Day: It’s Friday.

AMBIGUOUS:
XJO: Long-term trend is up, but short-term trend is sideways or even down with a lower high and lower low in the last week.

WATCHING: News, futures, charts. Note that US has some employment news tonight.

TODAY'S STRATEGY: Pros outweigh the cons. Banks and oil well up, but iron ore broke down through support and looks bad. CFDs are currently at 5,879, which slightly high given the leads. I’ll wait for a strong move before betting the other way. Favouring downside, because overseas markets have been unreliable this week. Range has been 5833 to 5881, and I don’t see a reason for either of those levels to break today. Easter break is coming up next week too.