Emini Trading Update – Wednesday 8 Dec 2010 (13:53)
Spent the last few days travelling South and so I’ve not been trading. Today was the first time I got to sit and watch the market and catch up on my charts.
We got the “End of Trend” warning signal on the daily Emini chart today. I would have preferred this signal to come with Professional selling bars to give a clearer signal of market direction. But we’ve got the same pattern in multiple markets – so that adds to the picture.
The interest rate charts are particularly interesting – rates have been rising but now appear to have hit a bit of a ceiling. If the Fed want rates to fall they could pull liquidity, drive down equities and force a flight to safety – driving up the US Dollar and Bonds and causing rates to fall.
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