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[Crazy Cat]

Hey folks,

Here is the video:
02-11-2009.swf

The highly anticipated Geitner event after a 1 day delay turned out to be a big disappointment and now it looks like the market may be getting back into its sell-off mode; however, we've had enough consolidation at higher lows for awhile that we could take one more big stab higher before another major breakdown. Long story short, we're stuck in no man's land and we know it's heading lower, but we're on standby for a lower low to get a lot more aggressive or a nice bounce to snag a great price on the EUR/USD, EUR/JPY, GBP/USD, GBP/JPY and S&P 500.

On Wednesday, we have our first two tradeable economic releases of the week:

0430 UK Claimant Count Change (89K expected) - 20K deviation should be significant as well as 0.2% deviations on the two unemployment rate figures; however, most of the price action may come before the report. I'm expecting GBP weakness potentially throughout the session leading up into the report somewhat, followed by likely profit taking. Watch the video for a more in depth analysis. Remember, higher numbers are bad news and lower number are good news on unemployment and claimant count data =P

1930 AU Employment Change (-18K expected) - Also, a 20K trigger here should provide a reasonable surprise. Oftentimes though the unemployment rate (expected at 4.7%) can steal the spotlight though, so:
If it comes out at 2K or higher AND the unemployment rate is 4.6% or less, AUD/USD should go up by 30+ pips pretty quickly.
If it comes out at -38K or lower AND the unemployment rate is 4.8% or more, the AUD/USD should go down by 30+ pips pretty quickly.

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Sir Pipsalot