Another quiet summer trading session for US markets and still we stay stuck in a range. There are some interesting technical points on the chart that we’ll discuss in more depth tonight, suffice to say that the main point of reference is 888.5 basis the S&P 500. This week has employment data being released on Thursday night, usually a market mover, and then the long weekend with no trading on Friday. All in all we’re directionless and will more than likely remain so. We’ve being dragged out of a one or two short positions, PGN last night, and into one or two long positions. There are more setups in both directions but it looks like short side setups are slowly fading and long side are getting closer to triggering. It may be a sign of what is to come.
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Phone: +617 5473 5743
Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
AFSL 288200
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