10:15 am EDT: The overnight low was taken out after Leading Indicators came out at 10:00 am, but price bounced off 1070.25. Ideal next trade is a long from daily S-1 (1067.50). There is good protection below from weekly S1 at 1064.75 and highest volume contract point of control at 1063.00. We would consider a short from the 1082.00 to 1085.25 area with a tight stop. However, Leading Indicators was not all bad, so we’ll be careful not to short if internals look strong on a minor rally to that area.
Leaders: EuroYen and 30 Year T-Bond futures are pointing to a bit of equities strength.
denny1
on October 23 2009 at 00:54:48
Bob,
we live in Naples.
where is So Fla are you located?