---------------------------------------- 10-29-07 10:38 AM Aussie positioned to take a trip down under to 74. --------------------------------------------------------------------- The Aussie took a nice dive from the 90s. Dollar going to 80, Crude going to 80. Bonds looking like they will make it to 110 8/32. Don't let em fool you on ES. 1560 is where they will peg it.
It's 10, so I guess it's okay to trade now, right? Long from 1488.75. (Okay, I cheated by a few minutes.) Significant resistance at 1490.50 which is 38.2 fib retracement of last down. If we break through that, the longs will smile. Right there now. EDIT: Lookin' like we broke thru, so 1490.50 should now be support. EDIT: Now at resistance at 91.75, the 50% retracement. Let's see if 1490.50 can hold. EDIT: Lookin' pretty good. Break above 92 and we're off to the races. EDIT: Multiple re-tests of 1490.50 support, so far it's holding. I'd really like to se us above 93 because the more often support is tested, the more likely it is to be broken. Raising stop to BE just in case. EDIT: Market is behaving badly. Wish I'd left my automated scalping algorithm running here...it has made four profitable trades (without me) since I entered this long position. I normally use it during chop time, but this morning is sure looking like chop time to me.