Pre-open:
June 23 (Bloomberg) -- The euro dropped the most versus the dollar in more than a week as German business confidence fell in June to the lowest level since 2005, reducing speculation the European Central Bank will increase interest rates this year.
Big drop in gold as oil falls from 137 and the dollar rallies. Last week's breakout for YG looks dead if it can't get back above 898 soon.
Bonds are selling but NQ found overnight resistance at 1952.50, last Wednesday's low. YM is back above 11900.
Weekly pivot for NQ is at 1958.25 and weekly R1 is at 1989 if bulls do a major rally ahead of the Feds. Friday's gap closes are 1990.75 for NQ and 1341.50 for ES. We might not get that far, but since it corresponds to weekly R1 for NQ, it could be a magnet this week. Remember yesterday's OEX analysis, watch 594. support.
June 23 (Bloomberg) -- The euro dropped the most versus the dollar in more than a week as German business confidence fell in June to the lowest level since 2005, reducing speculation the European Central Bank will increase interest rates this year.
Big drop in gold as oil falls from 137 and the dollar rallies. Last week's breakout for YG looks dead if it can't get back above 898 soon.
Bonds are selling but NQ found overnight resistance at 1952.50, last Wednesday's low. YM is back above 11900.
Weekly pivot for NQ is at 1958.25 and weekly R1 is at 1989 if bulls do a major rally ahead of the Feds. Friday's gap closes are 1990.75 for NQ and 1341.50 for ES. We might not get that far, but since it corresponds to weekly R1 for NQ, it could be a magnet this week. Remember yesterday's OEX analysis, watch 594. support.
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on Monday, June 23, 2008 at 6/23/2008 09:08:00 AM.
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