Pages

Tuesday, May 24, 2011

Morning Analysis

Euro's still bouncing off the neckline.

EUR/USD Daily

The dollar is showing a corrective mess that looks like a Bull Flag.  There's an open gap at 75.78 that I think the market wants to fill, and another target would be a revisit to the channel boundary.  The way it's trading it doesn't seem like this market can reach either of those.

Dollar Index Hourly

Stocks are flat.  S&Ps are trying to get back into the channel.

S&P 500 Daily