Update 11:34pm EST:
Gold now at multi month lows and also at 50% retracement from December lows – Feb highs
gc
Update 10:51pm EST:
Gold is now at multi-month low, last print 878.8 on June contract
ES is staying strong trading within a buck of highs
Update 9:17pm EST:
Euro is trading back into the big Ambush zone on the daily charts, see weekly euro analysis for expected resistance levels
Update 9:12pm EST:
Gold is now down over $10 on the overnight session, some major technical damage being done.
Update 8:57pm EST:
If no new high is made watch 836.75 (also overnight low @ 836.5) to provide some support.
2009-04-05_2056
Update 8:19pm EST:
Nikkei up 2%+ in opening minutes!
Update 7:07pm EST:
Considering 848 will remain the high, 838.75 will be first significant ambush long, with a minor one at 843.25. I am currently short with a rather wide stop into the open. hard to believe we will open above that trendline on the weekly charts, have seen stranger things happen though.
Update 6:38 EST:
Looks like some stops got hit above previous high
Update 6:31pm EST:
ES turned positive, and is now 0.5 away from the high of the rally at 844.5
that changes the parameters of the ambush zone from initial update
Hey Traders,
few minutes after the open ES is trading down 1.5 pts, on further pullback watch 836 ambush zone to determine further direction.
essunday
Also, dont forget that we are very close to the daily trendline connecting November and January highs, which should act as resistance on the upside:
esdaily-2
Euro gapped up trading +0.060 on the night above Thursday high, with next expected resistance expected at ambush range expansion, see weekly euro analysis post.
Good trading to all