There were less trading opportunities today compared to yesterday though if you were patient you were rewarded via a few strange short squeeze, cough rimm. Though the real story once again has been the dollar this week, she seems to still be driving the train. The dollar index DXz0 contract saw a rise of nearly .8%, which is currently up .3% after hours. The futures are pulling in from their after market Globex highs of 1186.25 as the last gasps of air were absorbed.
The 1183 level was breached with much ease as a descending triangle continued the trend down to 1177.75. The intra day low of the ES_F is 1174 which was achieved right off the open today. The reaction
off 1174 this morning was more than likely result of the upcoming POMO and further shenanigans, 1183.25 was the high tick of the intra day session. 1178 is a level to watch as well the ES_F stopped dead at this number twice intra day today and tested it three times after hours with much congestion in this area. For tomorrow watch 1174 followed by 1172 and the big level being 1155.50 on the downside for support.
Below is a monthly chart of the US dollar futures index. notice the trend and support in the 77 – 74.21 area.