Overnight update:
Here comes the JPY bid I was worried about. Support was solid at 10 DMA and we are off to the races. If it keeps it up, equity futures could reverse course. It's tough to get bulls worried these days, but we are definitely over-extended and that is going to figure into the equation a little more than last week. Nevertheless, let's see if JPY June can push above 0.008492 pivot before getting too short term bearish. Support is 0.008471.
Here comes the JPY bid I was worried about. Support was solid at 10 DMA and we are off to the races. If it keeps it up, equity futures could reverse course. It's tough to get bulls worried these days, but we are definitely over-extended and that is going to figure into the equation a little more than last week. Nevertheless, let's see if JPY June can push above 0.008492 pivot before getting too short term bearish. Support is 0.008471.
This entry was posted
on Sunday, April 22, 2007 at 4/22/2007 11:50:00 PM.
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