Monday, September 15, 2008

Quick Update - Monday 15th

ER: After the initial shock, ER is now staying in the 705-719 segment, yet, while energy is subsiding, there is still substantial downward pressure. We'll have to watch whether 705 holds. The segment below (support around 690) is a safer bet.

ES: Same story, here with a 1219-1250 segment, and also some remaining downward pressure. Not much of a safety below though, so lows have to hold otherwise...

EURUSD: a retracement to above 1.44 was expected, almost awaited, but it certainly came extremely suddenly. There is still some retracement potential but things are likely to calm down first just above pivot level.