Tuesday, October 27, 2009

Eurodollar and SPX500 Update

Hi folks, one more update, about eurodollar in my opinion is leading this correction, like i said yesterday we were near a top, the only thing i still dont know if it is a short term top or medium.
Until now we have a 5 waves down so we could see a rebound.Eurodolar entered a danger zone, he breakdown the first ascending trendline and now heading to the second, if it breaks the second i will assume that medium term top was done. In the present moment i assume that still missing one more high.
About sp500 i think today the bulls will try to reconquer the previous trading range, my downside target for its around 1050-1055.
Regards and good trades.