Tuesday, April 20, 2010
U.S. equity markets are called better as tensions have eased regarding Goldman Sachs’ legal problems. Stock traders are also a little more optimistic because of the
opening of some air routes in Europe. Technically, all three indices are currently retracing a little more than 50% of the recent decline. This is a key area as the markets are in positions to post
secondary lower tops. Currently the main trend is up with no sign of a let up until the current rally fails and a major swing bottom on the daily chart is violated.
June Treasury Notes and Treasury Bonds are trading mixed. Traders don’t seem to know which direction to play. Worries about Greece and Goldman Sachs are sending mixed
signals so traders have nothing to revert to other than the abundance of supply in the markets. Look for a choppy two-sided trade.
June Gold is trading better because of the weaker Dollar. Like stocks, this market may be making a retracement of its recent down swing. The main trend is up, …
