Friday, 11 January 2008

Good morning Team Rainbow. Markets are on the move. Looks like, potentially, an important top was made in S&P500 yesterday at 1428 or so. That level is the "up" trendline from 1994 and the 2003 bottom, so doesn't look good that S&P broke it and then rallied to it and faded again. It needs to get back above it really to prove the downside break was false. Otherwise we will be in for much larger falls.

Today's economics: UK industrial production at 8:30am, US trade balance and import prices at 1:30pm.

I'll post the morning system results later. As I cannot be sure to around at 12 and 4, the main system signals will be put on hold as it is silly to only show 8am signals.

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