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It is WEDNESDAY !!!
This means it is mid week. This also means the weekend is coming soon. Yay!
The EUR/USD held it’s own mid week party. After slicing through the strong support of 1.4260, it arrives at 1.4117, planning it’s next move.
The S&P 500 continues to range as it drops right down to the bottom of it’s current range. If it goes below and beyond, we may be in for some serious breakdown of sentiments.
Oil continues it’s slide and is currently at $75+.
Gold likewise drops and is currently at $1113+.
So who let the bears out WHOO WHOO WHOO?
For starters, more and more reports are streaming out with regards of China’s moves to curb speculative growth and inflation. Investors probably do not see this as a promising sign to ever lasting growth!
On the US side, IBM’s and Morgan Stanley’s reports leaves more to be desired and seem to be taking a toil on sentiments.
The EURO zone continues to be weighted down by it’s member country Greece’s deficit problems and investors may wish for a speedy resolution instead.
Any bullish comeback may have the pair attempt to overcome 1.4150.
Further bearish momentum may bring us to 1.4080.
Do be cautious and not attempt to fight against a trend. One of the top causes of a margin call is the attempt to find tops and pick bottoms. Practice proper money management.
We have a number of releases due tomorrow including the US Unemployment claims. Therefore be careful of spikes.
I clocked 12 hours of work today and i have an early day tomorrow. No chance for me to practice Left 4 Dead 2! I love versus and being boomer I feel great when i see the zombies chase after the player i vomited on. Woah! Ok. Pardon me. Trade safely!!!!
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