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Soultrader

August 20, 2008 Market Analysis

By Soultrader, in Market News & Analysis

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Soultrader    12

Soultrader
Posted

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.

 

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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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