EUA chegam a acordo com a UE para tarifas de 15%

[Dwer]

Market Force: Bearish. Market appears ready to move lower to the 1102.00 price area we've been discussing to fufill the Sell pattern.

Trade Setup Summary for Tuesday, July 13, 2004:
B@1114.25/S@1115.00 +.75

Recap of Tuesday's Action:
Good Morning and thank you for joining with us today.

Our Headline Call for a bullish move in the markets turned out to only be a meager move higher on a small gap up opening and attempt to push higher. I was very surprised that we did not get the larger scale move planned. Something very odd is brewing.

The market staged it's smallest trading range day I've ever seen with an incredible 3.70 range.

In spite of this small range there was all kinds of wild spike moves on both sides of the trade with institutional participation too...but mostly local to local trading in the pit.

It was a boring day to sit out our long trade but after several weak attempts to push through 1116.00 we ended up getting out at even.

Here are my Wrap Up comments from the Live Service.

"We got long in the market early based on our Headline Call and Market Force indicators as we were reading them.

The day ended up literally one of the slowest and tightest range days I've ever seen. It appeared that NOTHING could move the markets.

There was even some news about a Bin Laden associate turning themselves in to the Saudi Arabia government but that also barely had an affect on Tuesday's anemic market.

We got long at 1114.25, risked the trade down to 1112.00 which held, and we got out 10 minutes or so before the market closed with a +.75 profit as we waited for prices to run up through 1116 and close in on a number above that. No cigar for the short sellers or the longs today." ;;

Today's Call & Briefing:
Due to the small range on Tuesday it makes today a bit more difficult to call.

I am expecting prices to now push lower and attempt to hit 1102.00. If we have some room to move lower after the open then we would look to most likely go short on any early rallies.

If we hit the BreakDown Hour One low first and the High 5 are Mega Bearish then we could get a crunch right down to the 1102.00 from there. It's a bit diffficult to say after a day like Tuesday that offered little clue as to market directional bias.

We have to be willing to wait out our entry a bit more as we could also just have another tight range day with neither side getting any real profits. We will mostly need to take our clues from the tape tomorrow after the first hour is completed.

Value Area: 1,114.00 - 1,115.40
Watch for trade below 1114.00 to be bearish. As per Tuesday's Headline Call we still want to watch for 1115.00 as an important pivot for higher prices if trade moves above there.

Buy Pivot Target: 1,112.25 - 1,113.25
No Trade at this Pivot target today but just watch for comparison to the Hour One pivots. Tight range makes these pivots not too reliable today.

Sell Pivot Target: 1,116.00 - 1,115.00
No trade at this pivot today as explained above.

10 Day "Pit Bull" Moving Average: 1,121.20
We were closing in on the Pit Bull but in overnight Globex trade have fallen back towards the 1110.00 area again. Keep selling rallies under this number.

Pro Trader's Action
An abbreviated briefing today as little clue was supplied in yesterday's trade as to market bias.

Overall we are expecting lower pressure probably to fufill 1102.00. Our Call for a strong day on Tuesday went unfufilled with prices not able to move over 1116.00

With the way the indicators are lining up now it appear we are ready to make a dive towards some lower numbers below the lows put in this week of 1106.20.

Be willing to stand aside any trade until we can get some clear market bias from reading the tape if that shows up. There is no hurry to get into a market that is going nowhere.

Let's see if we get some tradeable action today.

All the best of luck and sucess, Mohan