As deflation deepens, will the US dollar crash?
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0630.ET
Far East Markets are Up big .. European Markets are slightly mixed .. US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 42.22 / 106.10
QQQQ Resistance is at 42.50, then 42.6x, then 43.20
QQQQ Support is at 41.90, then 41.40 – 41.60, then 40.80 – 41.00
There are Big Economic Events out this morning starting at 0745.ET, with Really Big Reports out at 0900.ET and 1000.ET . . so be careful!
Today should be a Wild one with all of the Big News out this morning . . . remember to use Volume spikes to your advantage as Alerts to a Reversal . . and then use the CCI extremes as times to Enter and Exit positions. Let the Market come to you .. don’t chase it or jump the gun . . . this is how you reduce the Risk in Trading.
I am in the medium-term Bearish camp and will look to Short QQQQ Rallies as opposed to Buying Dips . . . I see a major Drop coming soon … sometime within the month of October.
AMC Commentary
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Robert Prechter’s Five Tips for How To Trade Successfully
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