I should have noticed that the dollar put in a bear flag yesterday and never filled it’s gap from the day before. When market ran up this morning, the dollar fell to fill the gap and fulfill the bear flag pattern. Now it’s rallying off of it.
The market is trying to hold on to that lower trendline of support in your chart of a triangle. Once it breaks, we should start heading down to either the 117.20 FP or the 116.69 FP from yesterday.
Something to watch,dollar firming up, possible we could have a short squeeze in advance of G-20 meeting this week-end and a completely different look at the market from now on.
I wouldn’t even look at technicals for the equity markets – it’s all about the dollar, which is even more stretched than the overall markets. It’s going to complete a head and shoulders pattern today. It will be interesting to see how POMO money is used tomorrow.
I should have noticed that the dollar put in a bear flag yesterday and never filled it’s gap from the day before. When market ran up this morning, the dollar fell to fill the gap and fulfill the bear flag pattern. Now it’s rallying off of it.
The market is trying to hold on to that lower trendline of support in your chart of a triangle. Once it breaks, we should start heading down to either the 117.20 FP or the 116.69 FP from yesterday.
Something to watch,dollar firming up, possible we could have a short squeeze in advance of G-20 meeting this week-end and a completely different look at the market from now on.
FALSE BREAKOUT : CLICK HERE
Whoops – I meant EURO/USD head and shoulders…wonder if POMO will be used against the market after the turn…
Yep… I see it too.
SPY spike down to 117.95 just now….
I wouldn’t even look at technicals for the equity markets – it’s all about the dollar, which is even more stretched than the overall markets. It’s going to complete a head and shoulders pattern today. It will be interesting to see how POMO money is used tomorrow.
If ES crosses 1190 successfully 1200 will be crossed easily. But 1182 should hold for all these to happen.
No Johnny, that’s the only upside print I have left. So yeah, it would be nice it they go ahead and hit it, so we can finally roll over for good.