Wednesday, April 11, 2012

Quick Market Update

 From the market open at the green arrow, the $USD saw some strength as you can see the Euro dipped below the open. If the recent trend keeps up, we tend to see the dollar slide a bit after the EU close and afternoon gains. I wouldn't expect huge early gains in the market, it would have trouble holding them throughout the rest of the day.

Compares to the Euro in red, the SPY held up pretty well on that bout of dollar strength.

ES broke through its VWAP on the downside during this move, but is now sitting right below VWAP. The 3C persistent negative divergence in ES, like the previous bounces, is still intact.

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