Good Morning,

First off, let me say that I don't think technicals from a few days ago, let alone a year ago matter. 

You know I like to start with fundamentals, so I will use my fundamental analysis to explain that first statement. We are in a very, very strange time for traders and investors (although the investors may like the recent 16% move up more than traders). Traders react to news and volatility and economic data, but when you have governments interfere, it can be very difficult to decipher the meaning and to react to moves that are so big, so fast and so unwarranted. That being said, we have great intraday trading opportunities, you just have to be SUPER patient to wait for them and NOT get caught up in the emotion and trade in poor locations. Just because the VIX is high doesn't mean we have to trade more frequently - just the opposite as your trade has the potential to move a large percentage (for you or...against you!)

So again, there you have my trading pshychology rant. 

Fundamentally, we don't have to mention Europe and tomorrow also brings durable goods (could be a snoozer in the light of, there, I said it, Europe).

Technically, here is just one of those intraday trades, a BUFFALO BOUNCE on the USD/CAD - a huge move up in the USD even though oil spiked higher (for all of you inter-market relationship focused people):

Past performance is not indicative of future results

Technically, here is the longer term chart of SPX, but again, I am not sure we can use "old" technicals:

Past performance is not indicative of future results

Below is the link for the webinar that will catch you up on fundamental and technical analysis with a look forward for traders, investors and hedgers.

Free Interbank FX webinar tomorrow night.

Happy Trading and Be Environmentally Cool

Coach Brian

Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.