Intraday Market Thoughts

Archived IMT (2010.10.11)

by Ashraf Laidi
Oct 11, 2010 18:56

THREE YEARS AGO THIS WEEK, the S&P500, Dow-30 and FTSE-100 hit their all time highs. Oct 5 showing Today, all 3 indices are at their 6-7 month highs, with the 200-week MA testing by the Dow-30, broken by the FTSE-100 but not yet attained by the S&P500, which is about 2.3% below its average. US indices could well extend another 5% with the help of decent US earnings and anticipation of further QE from the Fed. EURUSD uptrend remains robust as long as Sept 10 trendline holds at $1.3850s i.e. NO NEW CLOSE below $1.3840. I will be travelling again this week so updates will be LESS FREQUENT than usual. FOLLOW ME ON TWITTER for quick/brief updates/analysis


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