Monday, December 20, 2010

Morning Madness

  • Futures are currently up -market should start with some strength
  • No economic reports due out today
  • Volume should start falling off as we have a short trading week
  • Bulls need to close above 1246 to keep this market going higher
  • Bears should be careful entering into any shorts
  • Market is setup for more upside
  • Bears should try to claim the 1232 level but ultimately 1227 is the level to get
  • Stay nimble in the market towards the end of the year
  • USD/JPY is still selling off of resistance
  • EUR/USD is trading down at the moving averages
  • GBP/USD has bounced off of its moving average

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