2012 will be one second longer than 2011.
A leap second will be introduced on 30 June 2012, according to the International Earth Rotation and Reference Systems Service (IERS) in Paris.
The leap second is needed to keep the super-accurate atomic clocks in sync with Solar Time, which changes very slightly over time due to very slight irregularities in the Earths rotation.
Leap seconds are very tightly controlled and can only fall on June 30 or December 31, as required. The last one was at the end of December 2008. This years event will happen after 11:59.59pm of June 30.
Here we see the EUR/JPY daily chart, with a current price of 97.60, according to TDA. The strong bearish trend that began in mid April continues. The next price target is 97.30, a level without support from below.
Here is the /DX daily chart, where the price is currently 81.62, according to TDA. The bullish trend that began in late October continues, with 81.72 being a key upper resistance price level that was established last January. This level was tested and rejected last Friday, however if the price breaks through 81.72 with momentum we could see a move up to 82.00 .
Here we have the weekly chart of the EUR/USD, with a current price of 1.2715, from thinkorswim. The downward trend that began in late October has remained strong, and I expect to continue. 1.2600 is the next target, and a major support level.
EUR/USD is hovering at a key support level, 1.2867. If there is a strong move through this level, we could see a large downward move, which would be a continuation of the trend that began on 10/24/11.
/CL has been in an uptrend since 10/4/11. I wouldn’t be surprised if it continues upwards, after a quick reversal down to 95.91 from it’s current position at 99.06.
4H USO chart, which has been in an uptrend since 10/4/11. I see a slight reversal from its current position at 38.12 to 37.00, before a resumption of the uptrend.