09 May, Members Daily Market Report

Good Employment data on Friday from the US had the S&P's bid before the fear and nervousness of last week took control again, however intermediate term the trend is still up for the S&P's. while it is trading above 1290.25. We are long two units of Gold and looking for a close above 1501 and then 1522 to maintain bullish momentum. We are also long 1 unit of EWG from 27.91 (using DAX as anchor chart) looking for 27.20 to hold and then a close above 28.04. I'm looking for last weeks sell off to offer buying oppurtunities in the right commodites, Gold certainly being one of the “right” ones and possibley crude as well.