Tuesday, December 09, 2008

Christmas shopping...

Good market reading again yesterday with €/$ reaching our target (1.29395) then retracing a little. Same with ER2 which hit a high of 484.50. Can't do better than that... :)
ES also attempted a breakout and even passed 900 for a while.

So, what's in store for today ?

EURUSD is pausing on resistance level and could retrace a bit (Fib), yet the trend is now most probably up. After the initial pullback, we will wait for confirmation of a range breakout above yesterday's highs.

ER should also see some minor profit taking today which will provide good entry points. ER should test 500 within a couple of days (Fib target ~490, then ~515).

ES was inches away from stall level around 920 and is now gathering energy to reach the next 936 target. ES is certainly lining up to 1000 within a week or two.

( posted 12:30 AM - screenshots available on request )