ESU9: 1015.50 and 1019.25 are key Reversal levels. Regarding yesterday we couldn’t breakthrough 1011.25 with 394,000 in 52 minutes, this morning we broke through the same level with 11,700 contracts. Night trading ruins the balance of the markets.
Last night the USD traded down from 79.00 to 78.82 on 68 contracts which is $20,000, when you consider that the USD is the world’s reserve currency and 20k decreased the worldwide USD value an approximate 270 billion dollars.
The compression angles are much more clear than the Equity markets, S.P.’s, Dow and the Nasdaq. Resistance begins at 14287 to 14306. At 14306 we have a key floating equalizer from the weekly charts, which gives us immediate direction. Above 14306 we head up to 14335 to 14376.
USD: As with the Euro the compression angles are quite clear. Down to 78.07
Soon we have news coming out at 8:30EST, the only potential surprise could be retail sales coming in less than expected.