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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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Tuesday, April 10, 2012

U.S. Economic Optimism Still in Negative Terrritory as Wholesale Inventories Rise

Data released on Tuesday reveals that Economic Optimism rose but is still in negative territory as Wholesale Inventories rose, as shown on the graphs below. Consumer optimism has rarely been above zero since 2007.

As I'm writing this, market reaction, thus far, has been very negative, as shown on the 4-Hour charts below of YM, ES, NQ & TF. Price is currently trading at/near External Fibonacci retracement levels...whether they will stop there today remains to be seen.