SPX is not ready to breakout of a tight 20 point range. This is all due to OpEx this week. Beautiful setups and great range trading opportunities both ways. Price is reacting a lot better to technicals this week. I am sure all of that will go to hell soon as HFT shenanigans are just around the corner :) This is just a short reprieve before intra-day madness is back. I am keeping my stops wider and time frame longer. We are probably about 20 SPX points away from a roll over. Way too many folks want to short 1240 - 50. Aggressive traders will front run that level by 10 - 20 points. Action will feed on itself from there and wheels will come off the rally wagon fast.
As for EUR/USD 1.45 is a solid resistance, top of the range. I see a possible easing by ECB as a trigger for a trip back down to 1.40 very soon. If today's PPI will be followed by higher than expected CPI tomorrow, FED will not be able to do a huge QE.
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