Hello All,
Big news over the weekend is China's currency policy change to make the yuan a free floating currency. This should be positive news and a step in the right direction to help get the world economy back on the right track as China is a great exporting nation. Technically this could have been the catalyst to reach my upward targets, but if it does turn out to be something more, then I will have to re-evaluate my projections. The gap up on the S&P has reached my first extended target of 1127, but given the news we have a good chance of reaching 1136, which would be an ideal sale. This should coincide with the Euro at 1.25, and although we have reached my 78.50 projection for July crude, we will be rolling over to the August contract, and should allow for 80.50. I prefer to watch action overnight before initiating anything. Give us a call in the morning for an update.
Best,
Arman Vahdatinia
Futures & Options Strategist
1-877-338-EXPO [3976] ext. 25
www.ExpoFutures.com
*There is a risk of loss trading futures. Past performance is not indicative of future results.
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