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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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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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.