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Today U.S. Equity Markets weakened after Early Surge

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Mar 13, 2010.

  1. futuretrends24

    futuretrends24 New Member

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

    U.S. equity markets finished down on Friday and barely avoided a closing price reversal top which would have signaled the start of a possible retracement to the downside. The March E-mini S&P 500 and NASDAQ made new highs for the year while all three indices closed higher for the week. Friday saw the indices spike higher then break lower following a better than expected U.S. Retail Sales Report. As long as interest rates remain low, there is no other game in down. If the Dollar weakens next week versus the Euro, then look for the rally to continue.

    Early Friday, demand for higher risk along with a friendly retail sales report pressured the June Treasury Bonds, but this market recovered when the U.S. equity markets weakened. Once again the inability to break the low of the week at 115’27 triggered a short-covering rally. Technically, this market formed a closing price reversal bottom which could lead to the start of a short-term retracement rally. Watch for a follow-through to the upside on Monday.

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

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