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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
* 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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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
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Wednesday, December 07, 2011
With the ECB rate decision set for pre-market tomorrow morning (see graph below, courtesy of www.forexfactory.com), and the ECB press conference to follow at 8:30 am EST, the EUR/USD forex pair is basically holding steady today in between resistance at 1.34 and support at 1.334, so far, as shown on the following Daily, 4-Hour, and 1-day 1-min percentage comparison charts...market-makers are attempting to prop up the major indices by pushing the Financials ETF, XLF up...the Commodities ETF, DBC, is the weak one again today...ones I'll be watching tomorrow morning:
After this morning's brief sell-off, the YM, ES, NQ & TF are back up and still trading in their 5-day range, as shown on the 15-min chartgrid below...my comments from my last post still apply in this regard...the 50 sma (red) has just crossed below the 200 sma (pink) on the NQ & TF in a bearish Death Cross formation...whether or not they hold remains to be seen.