British Pound [Z'09] - On the Fence

The DEC'09 BRITISH POUND slipped back into a corrective posture and will remain on the defensive below the 16626 Inflection Pivot. If yesterday's negative signal is going to mean much the MKT will not spend much time if any above here. If so expectations are for the buyers to return for another challenge to 16724. Be patient. Although a test of this resistance is positive a reaction should be expected. A violation of 9724 and the rally starts to accelerate with 16835 the initial target on a move that has the potential to extended up to 17147.

A dip under 16529 is needed to turn the heat back up pressing support at 16432 on any lower probe. Keep it tight. If the MKT is going to find its footing it will here. If not further losses down to 16237 is the outlook. 16092 is the extended target.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

30YR T-Bond - Digestive Bull Trend

The Dec'09 US 30yr T-Bond is stuck in a Digestive Bull Trend today in a difficult roll. Expect the contract to stay on the soft side below 120-12, targeting 119-06 on any new weakness. Stay nimble. This is a major directional area for the underlying sentiment and the session Inflection Pivot. Expect a bounce and accept any REVERSAL signals. Only a held failure here signals a negative turn targeting 116-30 initially.

A rise above 120-12 and the Bulls will try to run with it targeting 121-18 on any positive showing. Don't press it. More stop and go action is expected.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.