Tuesday, May 12, 2009

Levels to watch

Whats in store for the market today;

Dollar- Down
Oil- Up
TNX-Up
/ES-up

The bears really need to get below 900 or yesterday was another 1 hit wonder. The bulls have to break new resistance at 920 and if they want the market to get even higher. They need to get above 930-935. Beware of lots of chop


DX aka the Dollar might be in the bottoming process, there is support at this level and it looks to completed an AB=CD move. The dollar slide after the Trade Data came out, but has since come back from it's lowest levels


Update: I added BBBB to a stock to watch. Check out the chart 3 post down.