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Nasdaq Sell Off on Apple Computer News

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Oct 19, 2010.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com

    After trading in a tight and narrow range, December NASDAQ futures broke out to the downside following weaker than expected news from Apple Computer. Futures are trading lower in the overnight markets. This is expected to flow into the morning session.

    Uptrending Gann angle support is at 2037.00 on the daily chart. This angle has held as support since the main bottom was formed at 1741.00 on August 27. A break through this level could trigger the start of an acceleration to the downside.

    The December Euro finished down on Monday after rebounding from its low following early session weakness. The initial break in Monday’s session was follow-through selling following Friday’s closing price reversal top. This down move was short-lived because a not so friendly U.S. Industrial report triggered a short-covering rally which lasted most of the day.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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