08-20-2008, 02:52 AM
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Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Thanks: 545
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| August 20, 2008 Market Analysis Todays market analysis beginning with the Nikkei. Yesterdays ES action took value placement lower. However, Nikkei reaction was positive with a opening test towards the previous low and holding. Afternoon gap caused value placement to remain well enclosed within the previous day value area.
For ES, 1274 will remain key for today. A cluster for 8/18 high and 8/19 low. Any price acceptance above this will have me focusing on the long side. Premarket action is up as well.
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