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
Tuesday, January 17, 2012
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