Opening Play for Wednesday 9/17

September 16, 2014

Commentary:

Good Morning Traders!

Chinese announcement of surprise QE added fuel to the fire as the market was mildly oversold coming in.  The DOW made new closing highs.  Shares like MSFT stil have bullish continuation patterns.  More upside is expected.  Even the DAX  is poised for breakout from bullish flag formation.  SPs – retrace to 15/30 minute EMA  forms  bull flag.

FOMC due out after lunch, Scottish Vote tomorrow appearing to be moot issue for now. Triples expiration on Friday.

Yields have had a  good back up already.  Bonds have been on extended run to downside.   Chinese QE gave better boost to ten years as the yield curve widened a bit.  Currencies  put in  higher low on 120  minute charts,  did U  turn to the upside – AD   CD  RS leaders……EC  JY have consolidation formation that can goose either way.

Have a great day!

Linda

 

9-16-2014 10-56-13 PM

Tradesheet from Snagit

 

Markets in BO Mode:

BOs from snagit