Hello All,

1)  Sell June Emini S&P above 1286 at the open of the morning session, with a 1296 stop.  Exit next week.  It seems as though a fourth wave correction has ended and we should begin a descent subdivided in five waves towards 1220-1240.  Could higher crude prices jolt this market off its foundation? Or would it be another suprise out of Japan?  The rally over the last 3 days was surprising enough, but glad that it's come to an end.  Let's wait and see what develops overnight.

2)  Wait until after the EIA inventory data to sell crude.  Today was the April contracts expiration which could have contributed to the rally along with Middle East headlines.  I do see a top forming over the next 48 hours, but the difficult aspect is that it has a $3-4 range.  If we fail to take out 105.50 overnight, then I would suspect it to be safe to sell.  API came in with a draw of 970k barrels when analysts were expecting a draw of 2 million. 

3)  Still observing the Euro as it has halted under major resistance at 1.4250, difficult to make a count on the pattern so we will look to the dollar instead for signal.  If the anticipated correction on the dollar is in 5 waves, then we feel confident that the Euro will be headed lower, but if it is in 3 waves then I would suspect to see 1.44 basis the Euro.  Still too early to tell, but should have a better understanding by mid-next week.

P.S.  I will be in the office until the close tomorrow, and returning next Thursday.  Your respective brokers will be able to assist you in my absence.  I will be checking emails periodically.

Best,

Arman Vahdatinia
President, Chief Market Strategist
1-877-338-EXPO [3976] ext. 25
www.ExpoFutures.com

*There is a substantial risk of loss trading futures and options.  Past performance is not necessarily indicative of future results.

Hello All,

1)  Sell June Emini S&P above 1286 at the open of the morning session, with a 1296 stop.  Exit next week.  It seems as though a fourth wave correction has ended and we should begin a descent subdivided in five waves towards 1220-1240.  Could higher crude prices jolt this market off its foundation? Or would it be another suprise out of Japan?  The rally over the last 3 days was surprising enough, but glad that it's come to an end.  Let's wait and see what develops overnight.

2)  Wait until after the EIA inventory data to sell crude.  Today was the April contracts expiration which could have contributed to the rally along with Middle East headlines.  I do see a top forming over the next 48 hours, but the difficult aspect is that it has a $3-4 range.  If we fail to take out 105.50 overnight, then I would suspect it to be safe to sell.  API came in with a draw of 970k barrels when analysts were expecting a draw of 2 million. 

3)  Still observing the Euro as it has halted under major resistance at 1.4250, difficult to make a count on the pattern so we will look to the dollar instead for signal.  If the anticipated correction on the dollar is in 5 waves, then we feel confident that the Euro will be headed lower, but if it is in 3 waves then I would suspect to see 1.44 basis the Euro.  Still too early to tell, but should have a better understanding by mid-next week.

P.S.  I will be in the office until the close tomorrow, and returning next Thursday.  Your respective brokers will be able to assist you in my absence.  I will be checking emails periodically.

Best,

Arman Vahdatinia
President, Chief Market Strategist
1-877-338-EXPO [3976] ext. 25
www.ExpoFutures.com

*There is a substantial risk of loss trading futures and options.  Past performance is not necessarily indicative of future results.