Good Afternoon,

The Fed is still in play. The Bank Of England is still in play. Draghi and the European Central Bank is still in play with the Outright Monetary Transactions. The Bank of Canada - not so much. In play, but less of a willingness to commit.

Fundamentally, now that the speakers are done, we can get back to earnigns (AAPL and AMZN tomorrow) and the economic calendar: durable goods and claims tomorrow and Advance GDP on Friday.Will this quarters earnings finally be soft enough to get the equity markets to correct significantly?

Technically, will the next support level in the SPX be tested? What is that support level? Why 1398-1400 of course. The 100 period SMA comes in at 1392ish and the 200 period SMA comes in at 1375ish:

Past performance is not indicative of future results

With respect to commodities, Gold and Oil are still falling. Will the low 80's be another support area for crude oil prices? Gold - heading towards the 100 and 200 SMA around 1665 an oz?

In forex, some indecision as interest rates are being talked about all over the world. Overall, prices are fairly sideways over the past few days. Maybe there is something to the article I posted on Monday.

Past performance is not indicative of future results

Past performance is not indicative of future results

Thanks to those on the IBFX webinar. We covered trading psychology, technical analysis, fundamental analysis, and those crucial inter-market relationships. Although today, the "normal" relationship between the USD and equity prices seemed to break down.  And that is why the webinar was so timely - I mentioned to be cautious due to the various Central Bank speackers that technicals may not work as fundamentals could take over. Fundamentally, the USD and equities were weak today.

Happy Trading and Be Environmentally Cool

Coach Brian

Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.