Thursday, November 11, 2010

11/12/10 - Pre Market

/ES

Looks like the market may not like CSCO's results and guidance. Futures sports a nice little impulse up off of (iv) whereas the cash markets remains questionable.

Based on my EOD post yesterday, option 2 appears to be in the lead.

Overnight the /ES traded in a down channel. If a double zigzag is in the works, wave y may be nearing completion and the first target may be 1203.


/DX

The dollar is coming upon it's 34 EMA at 78.11 and some resistance at 78.60.
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