Intraday Market Thoughts

Archived IMT (2010.05.27)

by Ashraf Laidi
May 27, 2010 17:58

Major US equity indices have not yet closed below the lows from the Flash Crash of May 6. The US data has been unquestionably robust. Although the S&P500 and Dow-30 FTSE-100 each touched below their May 6 lows of, they have yet to close below these levels. Any extended recovery is expected to face resistance at the 200-day moving averages of 1,103 and 10,273 respectively. EURUSD succesfully heldp up above the May 19 trend line support of $1.2180, and has now broken the interim resistance of $1.2340-4. Subsequenet resistance stands at $1.2450.


Latest IMTs