Yesterday the YM E-mini index future delivered a masterclass in trading what you see, and not what you think. Trading with an opinion is one of the most destructive approaches to the market – just ask the euro bears who have been shorting the single currency for years. All to no avail.
Welcome to today’s Morning Coffee Break – U.S. markets are coming off a beaten up week with last week Friday the only trading session to see all 3 index in the green. The Dow Jones Industrial Average loss more than 1,000 points last week with 5 out 6 days to the downside.
Will the trend continue in U.S. markets? Each time the S&P 500 [stock ^SPX] began the week down 1% or more such as yesterday the U.S. markets closed the week out lower 5 out 6 times.
U.S. markets dropped more than 1% today as the euro fell off a cliff hitting a 2 year low until the afternoon when the euro regained its footing sending the U.S. dollar lower and equities higher.
April 30, 2012 first day of the trading week is starting out in the pre-market very active.
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