gulp - new week ta @$1.055, page-3

updated a day chart for anyone who may be interested in some TA

our markets are expecting to open higher this morning with the futures indicating plus 28points, I guess cause of the big gains that our markets made yesterday is the reason why the futures is smallish considering the big moves overnight in Europe and slightly smaller ones in the US

regarding the US charts, especially the S&P500, it did move higher but closed well off it's highs on less volume but it did make a higher high/low and close with it now sitting in the middle of that trading range as seen on yesterdays chart

LYC



........

a bit of the overnight market wrap

US MARKETS

A sharp afternoon downdraft prompted U.S. stocks to erase more than half of their earlier gains, as investors fretted over a report that highlighted a potential split in the euro zone over the terms of Greece's second bailout.

The Standard & Poor's 500-stock index gained 12.43 points, or 1.07%, to 1175.38

Stocks pared gains in the final trading hour after the Financial Times reported a split has developed in the euro zone over the terms of Greece's second bailout package. As many as seven of the bloc's 17 members are arguing for private creditors to swallow a bigger writedown on their Greek bond holdings, the FT said, citing senior European officials.

"This shows more indecision and a lack of something definitive getting done," said Tom Donino, co-head of trading at First New York Securities. "Everyone keeps thinking we're getting closer and closer to getting something done in Greece. But then we get word that we're not as close as we thought."

IN COMMODITIES MARKETS

Raw materials backed off their earlier highs but remained well into positive territory on hopes that potential progress in resolving Europe's debt crisis would improve the demand outlook for key commodities.


IN EUROPEAN MARKETS

European stocks surged Tuesday, with oil and gold prices also firmly on the front foot, as the prospect of a beefed-up euro-zone bailout facility underpinned sentiment.

The Stoxx Europe 600 index closed up 4.4% at 229.91. The U.K.'s FTSE 100 index added 4% to 5294.05, France's CAC-40 index ended up 5.7% at 3023.38 and Germany's DAX advanced 5.3% to 5628.44.

In terms of sectors, basic resources were the standout performers. The Stoxx Europe 600 resources index ended up 7.5% at 422.20, as key metals prices rebounded and following heavy losses in the previous session.