Sunday, October 24, 2010

DXY breaking down through 77.20 pulling S&Ps up AH (SPX)


No need to worry your not missing anything in the after hours futures market tonight, just the standard 8-10 PM ramp session courtesy of foreign currency manipulation and dollar printing. 1185 is the level tonight where the SPOOZ has been rather attracted to, keep this number in mind as we are up against it as the dollar is breaking down through 77.20 in the DXY. Remember the DXY flash crash Friday? Where their smoke their is fire? 1180.50 is the level to watch on the downside tonight,  this was a level of hesitation during the final 15
minutes of globex trading last Friday as we were ramped nearly 8 handles.

DXY
For this coming week 1186.25 is the 5 day high, 1155.5 is the low, with a break out above 1186.50
more than likely momentum buying and of course more shorts. Volumes again have been much higher in the downward spikes of the ES_F.  Expect more of the same unexpected yet expect BS out of the market this coming week.

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