this morning our market is expected to open abt -58ptsas we can...

this morning our market is expected to open abt -58pts

as we can see on the LYC chart yesterday was our first WEAK day after hitting that low of 85.75c on Tuesday

and it was quite high on the cards after that opening HUGE volume to the upside was NOT tested successfully on the intraday chart

yesterday was yet another fine example of the pro money catching out a lot of ST traders (attempting to hold for a few days at least) who were buying at a HIGH risk time, now their positions will be under extreme pressure with the expected lower opening this morning, wonder how that always seems to be the case hey

up down and all around which way this way, just churning us all over time after time

but in saying that, of course if trading on a smaller timeframe or as a LT holder if just buying at any lower price most things would be fine, I'm just basing my entries off the daily and looking to hold for longer than the ST and will only enter on what I consider LOW risk and there has not been any of them for yonks

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S&P500 chart of last night looked weak after closing lowish on less volume, it's still within that existing trading range, BUT as of yesterday has made yet another lower high which now dates back over the last month, plus also a couple lower lows, ummmm

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LYC day/weekly






US MARKETS


U.S. stocks snapped a three-day winning streak, sinking as a drop in commodities prices added to concerns about policymakers' ability to contain Europe's debt crisis.

TONIGHT:

- Attention again rests with Greece, which is due to resume talks with officials from the European Central Bank, the International Monetary Fund and European Commission officials Thursday. The troika of inspectors will review Athens' progress on austerity measures and economic reforms. Earlier this month, discussions were cut short when a dispute erupted over whether Greece was doing enough to meet its budget targets.

- Traders are also watching Germany, which is set to vote on proposals to expand Europe's bailout fund. The measures, which would nearly double the fund's size, must be approved by all 17 members of the currency union though Germany, as the region's largest economy, would have to put up the most in additional funding. (Germany's parliament is expected to approve the same measures on Thursday, thanks to support from opposition parties as well as most lawmakers in the governing coalition. But Chancellor Angela Merkel has been fighting for weeks to quell a rebellion by some of her backbenchers against the EFSF expansion. Such a visible split could potentially embarrass her by revealing the growing divisions among Germany's ruling conservatives over her handling of the euro crisis. )