Dec 11, 2013 ( 9:47AM EST )
Fellow traders, as no big movement was expected in early trading in U.S. markets today, I took the liberty of stuffing my stomach first and then open my mouth (no, not to put my foot into it, that I leave for experts to do *hehe* ).
My patience is paying off and Dow Jones is now tilting towards red zone. Even though the U.S. Federal budget deal has been clinched; the Dollar index is still trading lower. I’ll have to search for some background news reports which is keeping USD lower. This is the only signal that goes against tapering possibilities. Gold and bond markets are still trading in the negative, signaling markets’ preparation for a possible QE3 taper.
U.S. indexes have just turned negative and now the only question is, how long Dow Jones will survive above 15,820 levels?
That is its strongest support in current range and once Dow Jones breaks below these levels, we can expect a “bear party” in U.S. markets
I’ll wait for that session. You can continue with what you had been doing in the trading ring. Most probably getting thrashed by markets whales (*hehe*:))
Good luck, enjoy the day, have a great session in markets today!
See you later.