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Equity Markets Retrace Yesterday’s Range to Finish Higher

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Aug 19, 2009.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
    Likes Received:
    Today’s sample of Futures Analysis from FuturesHound.com

    The September E-mini S&P 500 retraced all of yesterday’s range to finish higher for the day. The current chart pattern suggests that this market could run into resistance at 50% of the break from the 1016.00 top at 995.75.

    Equity markets were up across the board as buyers stepped in overnight following better than expected economic news from Germany. An improvement in German investor confidence renewed thoughts of a global economic recovery. In addition many investors felt yesterday’s break was overdone.

    September Treasury Bonds and Treasury Notes finished lower because of the rise in equity markets. Investors felt a little better about an economic recovery, leading them to lighten up their long Treasury positions. Some traders had gone long Treasuries for protection during Monday’s break.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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