Hey Traders,
while today was a down day, no real technical damage was done to the markets besides maybe lower high and lower low formed. Once again will be watching the big trendline and new forming channel:
es728
The key area in mid 950s right at 200ema hourly will be key to break to have a chance of getting any additional downside going.
The Daily charts set up much like yesterday, with second consecutive hanging man and put call ratio at 0.8, which are both pretty bearish.
It’s nice to see some volatility come back in fx /gold, as “King Dollar” was back for a few hour today… here is % of ave range summary for the day:
GCQ09 183.1
ECU09 128.3
DXU09 126.5
SFU09 124.3
CDU09 119.4
ADU09 117.2
JYU09 113.4
BPU09 90.7
NQU09 88.8
ESU09 88.2
YMU09 85.0
TFU09 77.3
All 4 indices were the quietest.
Intraday setups continue to work beautifully, will continue to milk those until further direction clues are given by mr Market.
Will post intraday updates via Twitter @esecfutures, in the chatroom during the day (see “Free Trader Chatroom) in top menu and of course on the blog
Cheers
Vlad