Thursday, September 12, 2013

Market Analysis – Thursday, September 12 2013

This past week’s short term trend reversal has left many investors and traders scratching their heads. Both currencies and stock markets alike have been affected. The million dollar question is whether this is just a temporary pause before the overall trend reasserts itself. At times like this, it pays to be a trader rather than an investor.

It’s currently trading at 1.3273 and remains below it’s recent high of 1.3451. Targets on the upside are 1.3347 and 1.3375. On the downside targets are 1.3267 and 1.3215.

R1:  1.3347
R2:  1.3375
R3:  1.3427
S1:  1.3267
S2:  1.3215
R3:  1.3187



For those that thought they missed the opportunity to go short this pair in the 1.5800’s, well those traders have gotten their wish. On the upside, getting above 1.5840 opens the way for 1.5866.

R1:  1.5866
R2:  1.5904
R3:  1.5978
S1:  1.5754
S2: 1.5680
R3:  1.5642



The pair is at the very top of it’s yearly range at .8127. Breaking above .8154 could set up the path for .8183, while downside targets are .8124 and .8110.

R1:  .8146
R2:  .8154
R3:  .8168
S1:  .8124
S2:  0.8110
R3:  0.8102

S & P Futures

The index has been in steady uptrend since the beginning of the year with periodic pullbacks. It’s unclear if the top is in, though time will tell.

R1:  $1690.10
R2: $1703.12
R3:  $1710.14
S1:  $1670.62
S2: $ 1661.10
R3:  $1651.05

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