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
Thursday, January 26, 2012
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