ftse liffe, page-124

hey launch, on the dow and spx daily the basic zig zag zig corrective move down looks to have further to go eventually, maybe to 13000 or so, but in the meantime, an attempt to recover 13700 short term wouldn't surprise me. As for spx, 1490 is one of those iconic levels that some of the long only instos are attached to for no good reason, and a selloff that convincingly breaks that is needed to suggest further downside.

If the fed pumped $41 billion into markets overnight as has been reported, then I reckon they spent a lot of it trying to turn back the tide to dow 13700 earlier on. That was when there was a definite attempt at a short burner, and a pretty fierce attempt it was too. That their attempt didn't work suggests there was massive selling - more than the price levels now suggest.. its even possible that one or more of the huge funds was deliberately taking on the fed, sensing weakness after their last meeting... if george soros could break the bank of england, then there is certainly enough foreign owned usd out there to take on the fed now.. and being already in usd, it wouldn't affect the exchange rate .. but thats all just speculation on my part.. juicy tho..