Pre-Open 1-27-12 SPX,DOW,GOLD&$USD

QUESTION OF THE DAY- What does a weaker 4th quarter GDP report mean for the overall health of the economy?

The support level for the DOW is 12,617.47. Its overhead resistance is 12,750.

The support level for the SPX is 1309.13. Its resistance level is 1325.

GOLD is trading above its support level of 1669.57 as we await the open for other markets. Its overhead resistance is 1750.

The US dollar must support 79.08. If not, its next support levels are 78.60 and 76.49.

Protect ALL positions by the close of trade today.

Peace, Josie Kelly

Pre-Open 1-26-12 SPX,DOW,GOLD&$USD

As we await the open, both jobless claims and durable goods' orders have been reported up for the week. It appears the markets received this news as a positive. REALLY, with rising jobs claims?

The DOW and SPX are both at levels that MUST BE SUPPORTED not only for the day but for the month. The key support level for the DOW is 12,750 with an overhead resistance target of 13,000. The SPX must support 1325 with an overhead resistance level of 1350.

GOLD must support 1680 to continue to its next resistance at 1750.

The US dollar is sitting on its key daily support level of 79.58. If it cannot support this target, the next major support level is 76.48.

I would continue to monitor ALL positions on 15 minute charts.

Peace, Josie Kelly

GOLD End of day

THE QUESTION OF THE DAY!!!! If inflation is not of concern to the FOMC, why is it breaking out to the upside after Mr. Bernanke's comments today???

Make sure you follow YOUR system rules.

Peace, Josie Kelly

All eyes will be on APPLE & The Fed

Has the market become a ONE TRICK PONY? Can Apple's performance sustain the WHOLE MARKET?

APPLE must support 423.67 not only today but for the the future. What will the FOMC announce today? Regardless of the answer, the charts will show the way.

The DOW must continue to support 12,559.51. Its overhead resistance continues to be 12,750. If this market trades above this area, then it will become its support level.

The SPX must support 1303.14. Its overhead resistance level is 1325.

I would monitor ALL trades using a 15 minute chart.

Peace, Josie Kelly

Pre-Open 1-24-12 SPX,DOW,GOLD&$USD

The dollar is the key.  It must support 79.52 OR re-test the 76.25 range.

The DOW's support level is 12,531. The overhead resistance level remains 12,750.

The SPX's support level is 1299.74. The overhead resistance level is 1325.

GOLD is trading below its support level of 1669.48. Its key support below this area is 1648.55.

The markets are in a critical zone. Make sure ALL positions are closed OR protected by the close of trade today.

Peace, Josie Kelly

Pre-Open 1-23-12 SPX and DOW

Due to connection problems, this will be short.

The support level for the DOW on the open is 12,496.31. The overhead resistance is 12,750.

The support level for the SPX on the open is 1295.93. The overhead resistance is 1325.

If the overhead resistance levels are broken, they will then become the support levels.

Peace, Josie Kelly

Pre-Open 1-20-12 SPX,DOW,GOLD & $USD

As we await the open, the markets are lower. The DOW must support 12,465.83. The key overhead resistance is 12,750.

The SPX must support 1292.49. Its overhead resistance is 1325.

GOLD is trading below its 10 day moving average of 1656.15. Its key overhead resistance is 1680.05.

The US dollar has still be able to close above its 10 day moving average of 79.84. Its major overhead resistance is 91.51.

IBM will announce its earnings at the close of today. It must support its 10 day moving average of 176.81.

Make sure ALL positions are protected at the close of trade today.

Peace, Josie Kelly

Pre-Open 1-19-12 SPX,DOW,GOLD & $USD

The DOW's support level on the open is 12,561.54 with an overhead resistance level of 12,750.00.

The SPX must support 1305.64 with overhead resistance levels of 1312 and 1325.

GOLD's support level is 1635.45. Its overhead resistance level is 1676.51.

The key support level for the $USD this morning is 79.05. Its main overhead resistance level is 91.51.

KNOW YOUR SYSTEM!

Peace, Josie Kelly

Pre-Open 1-18-12 SPX,DOW,GOLD & $USD

The US dollar still seems to be directing the markets this morning.

The support level for the DOW is 12,427. If this level isn't supported, then the next level is 12,276.31. The key overhead resistance is 12,750.

The support level for the SPX is 1285. If this level is violated, the next support level is 1266.09. The key overhead resistance is 1312.

GOLD must support 1634.30. Its key overhead resistance this morning is 1678.63.

The US dollar still remains above 78.71 this morning. Its key overhead resistance level is 91.51. This market appears to be the focus for the day.

Pece, Josie Kelly

Pre-Open 1-17-12 SPX,DOW,GOLD & $USD

The $USD appears to be the trigger for our markets. If the dollar continues higher, it will put pressure on the DOW & SPX.The KEY support level for the US dollar is 78.72. The overhead resistance levels are 85.00 and then 91.52.

The support level for the DOW is 12,400.67. The overhead resistance level is 12,750.

The support level for the SPX is 1282.07. The next resistance level is 1312.

Despite the upward move for GOLD, it must close and stay above 1680.36.

We are still in a short-term TRADING environment. KNOW AND FOLLOW YOUR SYSTEM RULES!

Peace, Josie Kelly