I will be primarily looking at weekly charts but will also reference Monthly and Daily charts.
Short ES at 1159
Initiated this a couple of weeks ago. Bought pull back off the bounce. I anticipate we will hit 1000. Stop is currently at 1225.
Long USD Index (DX) at 77.990
I just initiated this trade. Stop is at 74.00. I am betting we will hit 88 for the following reasons:
1. Bouncing off of Long term support...see chart:
2. Good chance Gold is at an intermediate top.
3. Issues in Europe are making the dollar look attractive relative to the Euro.
4. Previous high is around 88.