There is pretty good bounce of USD up to 77.06 area. Strength
here may be anticipation of Ben toning down QE2 in a.m. Speech he
will make. Just my opinion but USD is trying to bounce up and
could weaken the market per Matt.
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spx futures
Posted by rkelman on 14th of Oct 2010 at 07:55 pm
even with the good news on google the spx futures are down a little maybe due to the banks!
Yes, ES S&P 500 futures
Posted by matt on 14th of Oct 2010 at 09:18 pm
Yes, ES S&P 500 futures are only up 2 points tonight, Dow futures are only up 6.5.
However the NQ and Nasdaq futures are obviously up quite a bit and have made new high
Tomorrow watch that uptrend line on the 60 min SPX chart.
Watch the US Dollar as well because I still think a bounce is coming based on the chart.
notice how on the weekly chart the Dollar is at the bottom of the triangle, which is support, and on the 60 min UUP chart, looks like a 5th wave
However I could also see the Dollar still chopping around for a week if it wanted to, just saying to keep an eye on it.
USD
Posted by rbreese on 14th of Oct 2010 at 08:20 pm
There is pretty good bounce of USD up to 77.06 area. Strength here may be anticipation of Ben toning down QE2 in a.m. Speech he will make. Just my opinion but USD is trying to bounce up and could weaken the market per Matt.