Sunday, February 22, 2009

Market Notes as of close Friday Feb 20

Dollar saw a sell response and down auction toward its over/under area.
USO saw a buy response on the pullback at/near 23.20- much expiry voodoo to be discounted....
TF/ES (Russell 200 mini/SP 500 mini) continued their SLOW liquidation to the Nov (and 2002) lows
10yr Bond Supply area at/near 124 holds and consolidation is developing.
FOMC Supply above remains area to contend with.

RUT
options showing call bias
456 Supply/471 Overhead Supply
435 Over/Under
401 Demand

USO
options show put bias
26.25 Supply/30 Overhead Supply
24.60 Over/Under
22.85 Demand