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Sunday, May 9, 2010

Futures Up - US Dollar Drops - Will It Hold There?

At the time of this post the US Dollar is dropping and if it can continue to do so, the morning opening will be pretty big. Per http://www.finviz.com/futures.ashx the US Dollar is at 83.79. We are looking for it to retest the 83.55 level and possibly hold there until morning. Futures are showing a positive outcome for now.

Maybe a trap, as there is no real EcoNews and Mondays are usually flat to low volume trading days of late. Jobless numbers on Thursday and Retail Sales on Friday. It all about the Dollar and Greece. EU has prepared, presented a bailout package this weekend and should also see a boost from it in a short term feel good moment.