Given the fact that the markets were down in excess of over 2%, i thought fridays trading was healthy. 0.009 has proven to be one heck of a base to move off form here.
Imagine the movement if the markets were rather up 2% on friday. What would we have traded at? 1.2? 1.3? 1.4?
DOW bounced healthily of friday opening, which would suggest very strong support at these levels. Most investors, professional traders are positioned for a rally into Xmas, so any pullback (as we have seen last 2 days) is likely to be shallow
fm
FUT Price at posting:
0.9¢ Sentiment: LT Buy Disclosure: Held