SPX Moving Into Really Overbought Territory?

Good Afternoon,
Fundamentally, earnings begin and we have claims as well as retail sales later in the week.

Technically, we still have quite the range in SPX and I think that before we get to the tops at 1220, we may see some selling come in at the 1200 range - but a lot of that depends on the Europe "Bail/Fail Trade". Bail we go up, fail we go down.


Past performance is not indicative of future results
Next up, we have the forex charts. Was the selling of the dollar last Friday a hint that we were going to explode up today? There were two opportunities for BUFFALO BOUNCES today. One in the NZD/USD and a second in the EUR/USD, but because of the relentless action to the upside in equities, the dollar stayed weak.

Past performance is not indicative of future results

Past performance is not indicative of future results
I really am enjoying the markets rallying, but could now use a little sideways action for the remainder of the week. With 9 trading days until option expiration, getting through to Monday at these levels would provide some nice time decay!
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.