Intraday Market Thoughts

Archived IMT (2010.06.10)

by Ashraf Laidi
Jun 10, 2010 15:19

THE POSITIVE ARGUMENT FOR THE BULLS TODAY is Asian equities shrugging of Wednesdays US selloff (Dow-30 and S&P500) on the heels of robust jobs figures from Australia, S. Korea & China. It is rare that Asian equities rally, whikle bucking the prior sessions selloff in the US. Such a pattern has happened twice already this week but only the 3rd time in the past 3 months. It is too ambitious to expect S&P500 and Dow-30 to regain their 200-day MAs of 1107 and 10300 respectively this week, but the interim ceiling stand at 1075 and 10077 respectively. EURUSD capped at 1.2140-50, GBPJPY eyeing 133.90s following prev targets on and previous IMT.


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