Good Morning,
Lot's of action today!
First, fundamentals. Earnings are still somewhat around and news "bombs" from around the world can take place at any time. The biggies this week on the calendar (that we can somewhat prepare for" are:
**durable goods
**initial claims
**CHIPM (check new orders and employment sub-components)
Technically, SPY support still holds:
Intra-day, the SPY provided so many DOUBLE FALL LINE TRADES in forex. Here is the intra-day volatility with moves, countermoves and counter-counter moves:
Moving into forex, there were numerous DOUBLD FALL LINE TRADES and even a PARALLEL TRADE. First the GBP, then the EUR, then the AUD:
That's the quick wrap up today. Overall, I am looking for Europe or the jobless rate in the US to
worsen - whichever happens first could get us through the lows in SPY.
See you tonight at the Park City Trading and Investing Club
Happy Trading and Be Environmentally Cool
Coach Brian
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