Tuesday, January 25, 2011

Futures This Morning - 1/25/2011

Wheeeee! Dollar is bouncing back, everything else if off a cliff!


Oil


Here is last night's action.




I was mentioning in a post yesterday that oil was in channel between $88 and $92 but that has been broken to the downside last night with oil closer to $86 now! A new daily chart.




Gold


Gold has also breached a support level. The next one is really close and after that, a long way down! Last night's move.




And a daily chart.




Dollar


Not surprisingly, the dollar was up last night, bouncing off that stubborn 78 line. 




 And here is the daily chart.




British Pound


Dive, dive.... The Pound lost more than $0.02 last night which is an incredible move in the Forex market!




Euro


The Euro is also weaker, going back to the $1.36 line which should provide some support now.




S&P 500


The S&P futures are also down this morning, pointing to a lower open.





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