Archive for September 15, 2011

2011/09/13: QuickPost: Courtesy Post of Rohr Report Brief Update

September 15, 2011 Leave a comment

We have been a bit engaged by the critical early week activity, and there’s not much to say that is not in the full Rohr Report TrendView Brief Update today. It is basically about how the lack of ability of the December S&P 500 future to remain below the 1,155-45 congestion we have been focused on for awhile for the daily Close on Monday seemed to signal that the market pattern was changing.

That was important due to the way in which it ‘gapped’ below it on Monday’s opening for the week under the influence of weakness in Europe, yet Closed the day back above 1,155. that would seem a bit of a false DOWN Break, and those often lead to interim rallies even if the market is bearish in the longer term.

In the fixed income markets the government bond futures were feeling tired up against resistance; even the upside leader December Bund future stalled as it shot up to retest the 138.86 all-time high set by the september contract only last week (i.e. just prior to the September contract expired.)

Foreign exchange saw EUR/USD finally break the 1.3900-1.3837 support under the combined influence of the much weaker ECB economic forecasts and ongoing Euro-zone Debt Crisis. That likely leaves it at least stalling on any retest of 1.3900-1.4000 area, even if next support is as nearby as the 1.3400 area.

Thanks for your interest, and enjoy the read.

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