Posted on April 18th, 2008 at 10:13 AM
In my previous post, "Grow Our Way Out of This Problem..." I made mention that the 60 Minute chart of the British Pound (GBP A0-FX) could find the 1.9930 to 1.9952 area as an area of consolidation. If you compare the chart on yesterday's post to that of the time of this writing you will see that it traded just above it then just below it and now it is right in it.
Also as mentioned previously, the 30 Yr Bond has been taking a hit and the main indicies are moving up well.
I will leave you with the following important dates:
22 April 2008 ; 01 May 2008 & 08 May 2008
Lastly, 1415 is a reasonable area of resistance for SPX.
Trade Well,
~Ernest O.
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