Tuesday, March 17, 2009

Market Notes as of close 16 Mar

Dollar gap lower followed by consolidation @ previous demand cluster (26-26.20)- Value Area Lower

USO gap  lower in opening range followed by short covering into supply- Value Area Sideways

SPY/IWM consolidation @ high (previous supply)- closing range liquidation to over/under- Value Area Higher 

10yr Bond liquidation in opening range- closing range buy response- Value Area Lower