Monday, 16 September 2013

ASX 200 launches higher from wedge, now testing May highs

A false upwards break from the wedge would be a powerful bearish edge, albeit one that right now seems to have a low probability of being triggered, never mind proving profitable. It'd be remiss of me not to mention it, is all. 

S&P 500 and NASDAQ 100 futures gap up, both now testing resistance

S&P 500 and NASDAQ futures both gapped up at the opening of trade this week. As Peter Brandt tweeted earlier "... breakaway, exhaustion or measuring gap? That is now the question. BIG QUESTION."

In European trade the S&P 500 futures are testing possible (possible) resistance around the August high.

NASDAQ 100 futures are testing trend channel resistance.