Technically, SPX is back on its lows - support is in the 1140 level. A break below this gives us a good look at how the key 1110 will do. Again, the risk is to the downside IF economic data worsens.
Fundamentally, let's look at retail sales on Wednesday and claims on Thursday. We have some PPI and CPI data in there, but price pressures are abating a bit and the Fed has stated that there isn't inflation, so I am thinking that inflation data doens't hold as much weight regarding equity market movement.
Forex was a little on the rangebound side today, but the GBP/USD had a lot of nice moves and countermoves. A DOUBLE FALL LINE TRADE (actually two came into line today):
Past performance is not indicative of future results
Happy Trading and Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
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