Trading Markets? Your MUST-READ Morning Report 7.9.10

The exclusive Markets Morning Report is supplied by Precision Capital Management.

The Precise Take – ES at inflection point

Big Picture Analysis: The ES continues to hover just underneath strong resistance from its 20 day moving average and largest high volume level, from 1070.00 to 1073.00.  If it continues to accept above 1065.00 today, there is a strong likelihood of pushing through; however, a failure here should send the ES back to at least the ~1040 level.  The slow news schedule continues until next Wednesday’s Retail Sales, then Friday’s CPI.

Leaders Analysis:  The EuroYen is down from its 20 day moving average; however, the 30 Year Treasury Yield has pushed above…

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