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Futures Recap 062909

Discussion in 'Forex Discussions' started by futuretrends24, Jun 30, 2009.

  1. futuretrends24

    futuretrends24 New Member

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    Today's Futures Analysis summary

    Futures trading was slow and light in the U.S markets on Monday. It is difficult to tell if traders have taken an early vacation, or if they are waiting for Thursday’s U.S. Non-Farm Payroll Report. In my opinion, it is difficult to conceive that traders will take the early part of the week off then reappear for the number especially since Friday is a U.S. market holiday.

    Bullish traders showed up in the September Treasury Bond and September Treasury Note markets. The buying sprees which started last night were follow-through rallies following last week’s changes in trend to up. It is ironic that the Treasuries started up after the Fed announced last week that it would stop buying government debt as part of its quantitative easing plan. The bonds are quickly nearing a major 50% retracement level so its rally may be over soon.

    End of the quarter repositioning was probably the main reason for the rise in prices. Interest rates are expected to rise as the economy recovers so this rally may be a great opportunity to look at the short side of the market.

    Equity markets rose on Monday. Traders bought early then stepped away as volume was light. The September E-mini S&P overtook a major 50% price at 918.50 and worked its way to an old top at 923.00 where it ran into sellers. There may be one more push to a .618 retracement level at 926.50, but if buying is as light as it was today, expect the market to sell-off from there.


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  2. daniellefr

    daniellefr New Member

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    it is a nice website for daily forex analysis.
     
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