- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.
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Tuesday, 7 June 2011

Enforced Idleness

I overdid it yesterday and have to take the day off with my leg up. Possibly tomorrow as well. I have managed to extract a small declining channel out of ES which should give us some direction on a break up or down. Looking at USD, bonds and commodities I'm leaning towards seeing a bounce here, though that seems to be a minority view this morning:
If we do see a bounce I'd be looking for it to reach the 1320s before turning down again to test the March lows. If ES breaks 1280 that would suggest that we'll just keep falling for the rest of the week.Some support also at 1276 but after that there's little support above the March lows. I'll try to do a full daily post tomorrow, but if not, then I'll do one on Thursday.

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