Saturday, May 19, 2012

Markets forecast for week May 21th 2012 ( $SPY $ES_F $NQ_F $QLD $EURUSD $6E_F ) :

▲ We were bearish last week.
We stay bearish but we could see a technical bounce as both S&P500 and $EURUSD arrived on a weekly support as you can see on the weekly charts below. They did not penetrate it. $EURUSD started a little bounce, maybe short covering, NAT GAS and WHEAT did the same. So watch 1290 on $ES_F and 1.26 on $EURUSD.
I am starting a new position on $GMXR, half size, below 1.
Hoping for a double bottom on $DANG around 4.
Just watching $FB for fun, too risky, too much BS and mass manipulation....
COFFEE is still a buy but did not came to my buying level yet.

 

 

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