19 April Members Daily Market Analysis

Standard and Poor downgraded the outlook for the US to negative and the markets sold off. In today's video I discuss how we intend to play the failure of the 76.4% retracement from 07 high to 09 low at 1341 and potential Elliott wave 2 of a “bear market”, yes I know we hope this isn't the case but we have to be prepared as traders. AUDUSD held up OK and closed above its 8 day exponential moving average. We took action yesterday and bought new crop December Corn.