I maintain to favor Bulls 60% against Bears 40% for this week. => So far so good.
Open red scenario:
Bears: Short on the way down to 124.25 - 123.65
Aggressive Bulls: Buy on dips => Those who bought on dips (didn't care how the market opened) made quite a good profit .
Cautious Bulls: Off for one day
Open green scenario:
Bulls: Long on the way up to 127.10 - 127.70 => Bought 126.40 sold 126.90 scored +0.50
Accumulated Score from 11/23/2011: 2.80 + 0.50 = 3.30
1. EURUSD daily may be in the forming of a rising wedge. In this case 1.3567 must be overcame, however the first target for today or tomorrow should be about 1.3504 as the neck line. The RSI, MACD and some other indicators are showing bullishness which favors US stock markets.
2. SPY 30min: Seems a rising channel is in forming. It will be confirmed if a jump up at open and no pullback below 126.45 and a day close above 127.12 are seen.
3. My Game Setting for Wednesday 12/07/2011
I maintain to favor Bulls 60% against Bears 40% for this week.
Bullish scenario:
Bulls: Long and watch for resistances 128.02 - 128.40
Bearish scenario:
Bears: Short and watch for supports 125.40 - 124.54
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