Morning update:
The VIX drops below 19 for the first time in over a month, but ES is still stuck below the July 25th high of 1545. Techs are doing very well, but we still have not gone past the Wednesday highs and it might be tough with op-ex plays still on and oil stubbornly holding 81. At least USD is gaining a little on CAD and maybe that is a clue. EUR/USD had some early weakness but has come back a little since, but the 1.409 area seems to be an issue. Spot dollar came with a few cents of the 1992 closing low and has thankfully rebounded. It will be quite a crisis if it loses that level, but with some slower Euro economic news we could ge a respite in the greenback selling.
The VIX drops below 19 for the first time in over a month, but ES is still stuck below the July 25th high of 1545. Techs are doing very well, but we still have not gone past the Wednesday highs and it might be tough with op-ex plays still on and oil stubbornly holding 81. At least USD is gaining a little on CAD and maybe that is a clue. EUR/USD had some early weakness but has come back a little since, but the 1.409 area seems to be an issue. Spot dollar came with a few cents of the 1992 closing low and has thankfully rebounded. It will be quite a crisis if it loses that level, but with some slower Euro economic news we could ge a respite in the greenback selling.
This entry was posted
on Friday, September 21, 2007 at 9/21/2007 11:33:00 AM.
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