Intraday Market Thoughts

Archived IMT (2009.06.17)

by Ashraf Laidi
Jun 17, 2009 12:49

VIX BREAKOUT ABOVE ITS 3 1/2 mth trend line will inevitably bring S&P500 and FTSE below their 200 pday MAs. Oil breaks below 70, USDCAD hits 1.1390 Cable breaks below $1.6250. All parameters of risk aversion are kicking in. Today's CPI will prove a distraction. Fedex beats estimates but stock is down as it says it "cannot give meaningful forecast due to lack of visibility". NZDUSD, AUDUSD, EURUSD targets at 0.6220, 0.7830 and $1.3790.


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