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Homework for Wednesday 2009.02.10

10. February 2009
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ES - Very critical day tomorrow.  Tomorrow is the date mentioned in this blog post from about two weeks ago.  Will we finally break the lower trend line and on to new lows?  Today's action so far (little green bar) is trapped within that small wedge.  I'm looking for a move up to the descending trendline (shorting approximately 833) and then fall below the lower trendline.  Target 812, then 797, then 782.25.  Support at 827 and 819.75.   



 
 
 
 
6E -  In recent sessions, the euro has fallen after hitting a descending trendline (brown line).  We may reach it again around 1.3012 for another shorting opportunity.
 

Homework