Attached is the 50-day chart of the ADZ2
Although we did trade as high as 105.08, we were unable to hold those gains and settled at 104.66. This was a bit disappointing and leaves us on the sidelines as we go into the NFP number this morning. A weak number is widely anticipated and probably will be explained away as a result of super storm Sandy.
The ADZ2 chart still looks constructive and we would adopt a bullish bias on a close above 104.80. If we get in, our stop loss is still at 104.20. Initial upside target is 105.40.