Friday, March 06, 2009

Market update - Mar 6th '09

Only a quick late short report today... sorry about that.

One can actually refer to previous posts below as we are still in the same configuration. In the short term, we'll watch the 687 resistance on ES which is un der pressure even though we should see more selling down the line.

ER is on a Fib expansion target no1, so could retrace upward a bit, again with no chance of a change in overall trend for the time being.
Stopping the bloodshed is already a relief.
ES is leading the way though, and over the longer term, the same feeling is that the bottom is still lower (339 on ER ? 645 on ES ?). More details on the next weekly report.

( posted 8 AM UK )