Monday, March 23, 2009

Market Notes as of close 20 Mar

Dollar gap and up auction after consolidation @ previous demand (24.50-25)- Value Area Higher

USO continued consolidation from 30-31- negative skew developing-declining volume and option put skew developing into uptrend - Value Area Higher 

SPY/IWM consolidation range within FOMC range was breached- Down Auction ensued- FOMC range now becomes Supply- Value Area Lower 

10Yr Bond down auction- new rotation potential from 124-126- Value Area Lower