Opening Play and Daily Tradesheet for Thursday 5/8

Commentary:

Dollar has 240 minute Bear flag –  look for continuation patterns to the upside in the currencies.  Bunds Bonds and Tens – Breakout mode – The conference  after ECB rate announcement can be trigger.  DAX –  still in  contained range with converging trend lines – poised for possible range expansion today – US indexes will follow.  Yesterday morning,  NAz and Russ sold off sharply with big AOL gap down, but breadth was never so bad and Big cap blue chips were still making a steady stream of new highs on the day.  Russell now has a Turtle Soup Buy after price rejection spike.
   Happy Trading!
Linda

5-8-2014 6-59-08 AM

 

 

 

Tradesheet from snagit