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Sir Pipsalot's Thursday Market Update 04-15-2010

Discussion in 'Commercial Trade Journals' started by Sir Pipsalot, Apr 14, 2010.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

    Dec 11, 2007
    Likes Received:
    Hey folks,

    The EUR/USD continues to hold up well in the 1.3600's, but for me it's sort of in no man's land. I'd like to see it rally closer to 1.3800 for a potential long term sell, or down between 1.3500-1.3550 for a medium term buy.

    Stocks continue to hold up their ridiculous strength for another moderate up day to new highs. The impending correction or reversal will be sizable, but right now it would take a trade down through 1185 on the ESM0 (S&P 500 futures) to confirm that reversal was starting up.

    In news Wednesday, we saw US CPI and Retail Sales come out too close to expected for a trade, and there's no news Thursday really worth trading. It's just a pretty slow news week, but it looks like there's 9 news trades next week to look forward to.

    That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com

    To our success!
    Sir Pipsalot

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