We know this is a Forex site and apologize straight away for putting the above chart and talking about the S&P on here but as it is a holiday in the US and as a result we have not much else to say except we are still in a downtrend as far as Euro is concerned.
However, the S&P is a little more interesting right at this moment. It is overbought and looks like in place for fib times as well. RSI, Stochastics are very high as well as the DTosc. It is slightly short of 0.886 fib price and also it is around the 100 APP. If it goes to 0.886 fib price then that is also a cluster with the another APP at 0.618 (taken from different reference points). Everything is showing for a potential short with very limited risk (above the previous major high).
Once again, sorry for those who are not at all interested in the S&P and we will not be posting many more non Forex related analysis on this blog. We are in the process of creating a site for share analysis and for those who are interested can tune in to that site in the future for shares and indices analysis. More about that when it is near completion.
We will post currency analysis tomorrow and very shortly will be giving out the extremely valuable information mentioned last week that many of you have emailed us about over the last few days. The US Govt has approved it and we will divulge the news that will help you guys with your currency trading many times over. Some of you will know this information, most of you will not.
Have a good Monday and for the US readers have a great holiday.
