Although it is very early and I expect at least several counter rumors before the open tomorrow, as of now, the tone of ES is much more bullish than it has been in some time.
Thursday, June 14, 2012
ES & FX
The tone of ES has changed considerably, whether the G-20 news was real or rumor, the only thing really needed is the EUR/USD to hold and/or gain above resistance which it is now, so ES could be responding to either or both.
Although it is very early and I expect at least several counter rumors before the open tomorrow, as of now, the tone of ES is much more bullish than it has been in some time.
ES tone improved a lot since just before the close
A closer look
Just this afternoon I wrote that the EURO was seemingly, "SO close, yet so far away"; it's always some quiet Tuesday when you least expect it that all heck breaks loose. Right now, EUR/USD is above the resistance area. Should the Euro hold here or gain overnight, we are in short squeeze territory.
Although it is very early and I expect at least several counter rumors before the open tomorrow, as of now, the tone of ES is much more bullish than it has been in some time.
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