Friday, June 19, 2009

Market Update - Jun 19th '09

One should probably not pay too much attention to current "noise" on ES.
We indeed have some conflicting forces, with a first drive to try and reach 920, in a kind of a short term air-hole. We should indeed see ES fall toward the 880s in the coming days.

TF shows the same pattern with a possible short term target in the low 510s.

The underlying scenario remains the same with an anticipated consolidation then an attack at strong psychological levels (968/1000 for ES and 600/625 for TF).

More details in the forthcoming weekly report.

( posted late 10H15 AM UK )