Due to the current volatility and uncertainty of the market, i shall post a few more quick reports on the public blog. Please contact me still for other symbols.
The general commentary remains the same: move to shorter TFs for a bit of fun or stay cautious if using our 60m/D/W charts. The worst may be over, but the hangover effect is still there for a while...
EURUSD: After testing 1.464 all morning to a very soft response, the market decided to look for a support on 1.46. Again, no surprise but did we get the extra push to reach 1.495. Not sure in the short term, but we'll get there eventually. At this time frame as well as daily, we'll keep our UP bias.
ER: What will stop this endless drifting? The market decided to test another price segment and we're now on our way to 688. The good thing is that this support level is significantly stronger, but the downside is that there is no sign of a bounce yet. That's good for our options condor anyway, so we won't complain.
ES: The shock we had last week impacted ES more than the larger market, and it appears that while ER tried to catch up yesterday, a support around 1188 (same segment) is holding. A technical bounce is quite possible here but like ER one should not build undue expectations in the short term. ES should stay in the same price segment (<1204), and 1219 looks very strong.
(snapshots available on request)
Thursday, September 25, 2008
Quick update for Sep 25th
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