We finally went back to some bearish dynamics today after a number of the
signs of weakness we
have been observing matured. As an interesting technical hint, many of them broke their rising Regression Channels, which is meaningful from the mathematical point of view by itself, but moreover since it happened the same day to many of the instruments
whose performance we believe is linkedWe think this is a pullback which can eventually become a mid term trend change if ES makes a daily close below 990. In any case the main trend underlaying is still bullish.
The plan for today is stay on the sidelines and wait for a confirmation of this move after FOMC anounces.
ES
EURJPY
EURUSD
SP100
