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Gold, Crude, Euro, S.P Mini - WEEKLY REPORT

7/6/12

EARLY BIRD

WEEKLY OUTLOOK

5:30EST

ESU12:

Out last manipulation play (major) was at 1355.25 on 7/3; often as such the manipulation the play repeats itself at or quite near the previous manipulation level or taking out the previous manipulation level induces a sharp decline (stops) down to 1339.50; once again we're concerned with the weekly close

Portions from last Friday's Weekly (close) update:

6/29/12

8:54EST

ESU12:

We have 2 separate CD (compression detachments on the weekly chart

CD's

1) 1350.00 is the exact CD and 1347.25 is the low lip

2) 1362.50 is the exact CD and 1359.75 is the lower lip

Without question in terms of time and structure the CD at 1362.50 is far more profound

Expectations: when reaching a weekly CD and failing an immediate sell-off is imminent or upon closing a weekly CD a major rally is imminent

Until we reach 1385.25 I still maintain a bearish (big picture) bias

Crude:

81.60/81.77 is the key resistance pivot holding this level means up 85.60/70 (min.) although more likely 88.82/89.11

clearly taking out 81.60/77 (90m 1 bar) activates a buy signal, bear in mind we had 77.65 as the potential reversal (major) level (on 3/29; 77.65 became the down price target/reversal level) and we reached and failed to override (bullish)

83.38/83.60 is the 1st (minor) infliction level;

Trading above 84.97 means trend traders (still short from 107/108 ) consider closing all positions.

I strongly recommend to put one leg on; either get long or hedge with ETF or the crude mini.

NOW:

5:30EST

ESU12:

This week we reached 1362.50 (in fact higher up to 1375.00) therefore today's closing price is quite pivotal regarding the next three to four weeks (min.) more likely 9/11 weeks. A close at 1362.50 or higher is immediately bullish and means up to 1426/27 (min.) although more likely 1540/1550; a close below 1362.50 is bearish and means immediately down to 1260/1261 although more likely 1110/1120

Now term/Immediate term outlook: (today - until Monday 1:00/2:00EST

IMO Down to 1339.00; expect a bounce at 1338.75/1339.00

Crude:

Now /Immediate term outlook:

Down to 84.06

Big picture:

It should attempt to reach the key OAV at 79.97;

79.97 determines all; meaning if it's back up 103/104 min. or back down to 75.11

Gold:

Down to 1505; until 1505 is achieved the long term directional button is not activated; IMO down to 1432/1459; although this bias can immediately change at 1505

Euro:

Down to 12040/60 although in the immediate term down to 12134/12152;

the price action at 12213 is quite pivotal (infliction level -breakdown or bounce)

IMO down to 12040/60 (min.) although IMO down lower to 11750/75;

Near Parity is the down price target (103ish)