Latest trends for the markets above. Noticeable things: Currencies on a wild ride as intervention into exchange rates by the Swiss. German markets took a huge hit on Tuesday, something worthwhile to watch in the coming days. Most industries remain above their averages. The move off SPY 114 to SPY 120 in two days is a very large move. There is a possibility that we may have another up day on Thursday but I wouldn’t expect too much and am inclined to look short near SPY 122. On a daily chart, the market looks like a large bear flag developing. If this eventually does break, it would bring us into the 90 area on the SPYs but it would take a strong catalysts for this to occur (maybe a default by Greece or banking crisis in Europe).

One chart I noticed today was Cotton. It looks like it might be turning back to the upside after coming off significantly these past few months. I would look for it to support around 68.00 to get long.

Über den Autor

philipp_und_valentin