So, will there finally be some action today? I hope so because I’m on the edge of getting bored by this market…
I’m probably as boring as the market since I still have the same level yet again on the chart which I’m watching. One thing that is interesting though, those invisible hands should have let the market corrected the other day. The pattern would have been more bullish if it had corrected before a consolidation and not after (more short term swingers would have bought the market then when momentum was still good, I’m not sure will they buy now..).
The obvious level to look for today is 1400 and after that ~1390. On the upside it is still 1420.
As a bonus, there is enough macros today. And AUD Building Approvals m/m, that was released during the nigh @ -17,3% was obviously a big disappointment (2003 we had a lower value ~-25%).
Trading suggestion: don’t know yet, need to see a couple of hours of DAX and SPX futures first.
