Intraday Market Thoughts

Archived IMT (2010.07.22)

by Ashraf Laidi
Jul 22, 2010 15:53

S&P500 TRADES ABOVE 55-DAY MA for the first time since May, so a close above 1090 could spur the bulls to probe the 200-day MA of 1113. The DJIAs 200-day MA stands at 10390, a test of which could suggest further selling in USD. MARKETS IGNORE DATA as stocks extended their rally despite the jump in jobless claims hitting at USD and JPY. USDCAD respected the 1.0475 resistance before being pulled back toward 1.0370 trend line support from Jul 15 low. USDCHF break break to new 7-month low, eyeing 1.0360.


Latest IMTs