Today will be a positioning day as traders look to finalize bets ahead of the Federal Reserve meeting tomorrow and the jobs report on Friday. Gold futures ($GCZ7) are down $5 - continuing a slide that started in mid-September. The S&P 500 ($ESZ7) is bid this morning, helped higher by a strong Nasdaq ($NQZ7).
Since breaking out of its range last week, Crude Oil ($CLZ7) has stalled above $54 per barrel, however, prices look like they are doing little more than taking a breather before the bull run continues. The same appears to be the case for the Euro's ($6EZ7) move to the downside, though that could ultimately be derailed by a dovish FOMC tomorrow.
In the meantime, Senior Performance Coach John Hoagland runs down all the trading levels in these markets and what to watch out for in today's market forecast.
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