As expected for the NFP on Friday. No big surprises unfortunatley, the trend is for moderate job growth. Market reached 1462 again which is now serious resistance. 1452 is the support. Market looks good and would expect a further test of the high today. The market has about a month to put in a decent run before the fiscal cliff comes back to dominate. 1500 is my short term target.
Europe is totally sidelined, no news on the horizon as yet. Euro is suffering from JPY and USD profit taking. The Euro itself is pretty solid and support between 1.2980 and 1.3000 should hold. Topside is at 1.3085.
Market off to a steady start in 2013, buy on dips
Rikki
January 7, 2013
Elva Burns
January 7, 2013