Sunday, April 11, 2010

Twitter Weekly Updates for 2010-04-11

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EUR/USD Top of the Morning and Top of the Week Traders... If you haven't look at your charts yet... expect a big surprise. EUR/USD rose to over 1.3650 over the weekend. We are still tracking down what forced the jump BUT it is my opinion that the spike we saw at the opening of NY on Friday was a prelude to what was being planed. Currently the pair is at 1.3625 after my charts geared up for the weeks trading and I will be very interested in hearing what the pundits have to say as to the reason. So far it has been attributed to Greece  being guaranteed a bunch of money but there is something more I am sure. Well... as they say, let the games begin. Good trading this week everyone and keep your eyes open during news this week as you may want to stand aside while anything major is being released. I will try to advise when I see anything. P.S. The 4 hour chart clearly shows a double bottom at 1.33 the figure, that started last Thursday. FXDMG

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S&P 500 Emini Day Trading Gap Monday April 12, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2180" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday April 12, 2010"][/caption] S&P Emini 500 Futures continued it's inexorable march to the 1200 level on Friday.  The low volume up trend is beginning to worry analysts.  A local newspaper article from a national source quoted a well known market analyst who is wary of the lofty highs the market is attaining, since volume is low.  Friday scored a new high on well under average volume.  The emini's may continue to the 1200 level, but it certainly is time to insure the downside of any longer term portfolio.   Day traders, however, will continue to do our thing, trade the signals, and be in cash every evening.

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