Monday, September 17, 2007

Tuesday, 9-18-07


Well, here we are on FOMC policy day with the 60 minute chart bands compressed and ready for a big move. Odds are Tuesday continues to trade like Monday until the 14:15 policy statement. A quick pop up to 1487/1490 is then reversed dropping to the 120 minute lower band at 1445. The weekly projected down cycle low is at 1437 so expect it to be approached by +/- 3 points.

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