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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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...If the dots don't connect, gather more dots until they do...




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Monday, September 12, 2011

Morning update...

My observations from 10:45 on the markets today...

JPM showing relative weakness today:

If NQ drops below 2120ish with conviction, we could see a decent move down today:

EUR/USD unable to hold morning bounce high...spinning top on Daily:

Mid-point of prior downtrending channel still holding on Daily EUR/USD:

GBP/USD weak today:

Oil still holding in uptrend channel on Daily...just below Fib confluence:

Foreign ETFs in limbo at the moment after their gap down today:

VIXs still in range on Daily, except for VXX:

YM has breached the -2 deviation level of the shorter uptrending regression channel...if the low of the day is broken with conviction today, we could see a decent move down: http://screencast.com/t/pn5pqsFkGXbV

Markets waiting for further negative (or positive) catalyst?

I still think any major move down and below the August range on the 4 e-minis depends on the strength of the US $ and a major pullback in commodities.