Hey Traders,
very low volume day today, lowest volume day since Jan 02, 09. Also traded in very tight range, here is % of ATR Summary for major indices:
ESU09 56.9
YMU09 62.7
TFU09 67.3
NQU09 77.8
Absolutely no new technical developments on this inside day. Bigger time frame levels remain the same, refer to yesterday’s weekend update with daily and weekly charts.
Here is a quick update with immediate support / resistance levels:
Chart is very self explanatory, will keep an eye at highlighted areas as well as the blue channel. Also, keep an eye on 200ema hourl, especially when laminated with one of other s/r levels, it hasn’t been tested in over 3 weeks, thats how strong this move has been!
This week with Euro Zone GDP as well as FOMC meeting all eyes will be on the dollar, here is key channel and resistance levels:
Recent high laminted with 50ema, and top of the channels are two areas which could create a dollar squeeze and be rather bearish for equities.
As always will post key technical and internals updates on the blog and intraday via twitter @esecfutures
Cheers
Vlad