S&P 500 Emini Day Trading Gap Thursday February 11, 2010

                                  S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday February 11, 2010

S&P Emini 500 Futures had a tight open once again with no gap.  The index stayed in a fairly narrow trading range today making direction difficult to ascertain.  Today is the fourth day in a row of sideways action.  Volume was above average at 2.2 million contracts (50 day average is 1.79 million contracts).  The market appears to be taking a breather before resuming it's trend to the downside.  In order to break the down trend, prices will have to close above the 1075 level, then successfully break 1100.  The path of least resistance is still down.  Expect support at the 200 ma, right now at the 1024 level.

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Forex trading system BBC part 2 Collapse of the Euro

Forex day trading This is part two of the BBC mini series featuring Joseph Stiglitz. Greece has a compromised system with 2 year notes at 7%. Magnitude of Debt is larger than the capacity to take care of it. Enjoy.

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Forex trading BBC - Collapse of Euro next crisis.

Forex trading - watch this "The sovereign debt crisis has exposed a flaw in the design of the Eurozone. To make a currency strong you don't just need bank notes and a central bank, you need central authority and political will. Some in the markets, are beginning to see the euro not as a permanent currency for all time, but as temporary and fragile, as, well, Lehman Brothers."

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Forex trading system euro moved higher then fall

€ The euro appreciated sharply vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3840 level and was supported around the $1.3640 level.  The common currency added to intraday gains during the North American session as U.S. equities were on the positive side out of the gate.  Many rumours circulated during the European and North American sessions involving Greece's deficit problems.  First, dealers reacted to chatter that European Central Bank President Trichet cut short a trip to Sydney where he was meeting with central bank governors and returned to Europe for an emergency meeting of the ECB, a story the central bank denied.  Later, it was reported by a senior German ruling coalition "source" that eurozone governments have decided in principle to help Greece but a German spokesman later denied the report.  In addition to Greece, traders remain fixated on the deficits of Spain and Portugal.  The so-called sovereign credit crisis will likely extend to other countries outside of the eurozone in due course but in the short-term, the issue remains a net negative for the common currency.  European Union leaders will convene on Thursday to discuss strategies to accelerate economic growth but Greece is not currently on the agenda.  Data released in the eurozone today saw Germany's December trade surplus print at €16.7 billion, down from €17.0 billion in November.  Also, German December consumer price inflation was confirmed at -0.6% m/m and up +0.8% y/y.  In U.S. news, data released in the U.S. today saw December wholesale inventories off 0.8%.   Data to be released in the U.S. tomorrow include MBA mortgage applications and the December trade balance.  The Federal Reserve will release testimony tomorrow by Fed Chairman Bernanke regarding the Fed's strategy to exit its low interest rate and liquidity programs.  Bernanke was to testify before the House Fi [...]

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