Friday, March 21, 2008

Daily Outlook - March 21, 2008

Happy Good Friday everyone. Good Friday is a major Holiday in Europe. On major Holidays the markets tend to go dormant(very few traders in the market). Our rules dictate that we not trade on Major Holidays. So, we will enjoy the European session off and possibly take a position on the open of the New York session if given an ideal entry signal.

Some interesting things to note:

1) Bernanke getting much of the credit for the largest Commodities price drop in a week since 1956.

2) Dollar finally set to post a weekly gain.

3) Yesterday's UK Retail sales numbers come out unexpectedly good, could mean no rate cut again.