Wednesday, November 23, 2011

Mid Day S&P500 Chart (SPY)

5 min ES 
We failed to rise above the pressure zone of 1180 as the dollar rose over the 79 metric. 1161 is the low for this morning... i am looking for a possible test of lows into the afternoon as the carry trade tries to reverse and commodities continue with their weakness.

Crude popped quite a bit off lows as inventories saw a draw. But its only a fade ... if euro weakness continues...

15 min ES 

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