MARKET UPDATE 3

It's 9:48 as I write this and if you look at your 4hr charts you will see that the retailers that controlled that bar were short. Well, they just got disposed of when they just took it above the high.  Surely you don't think what you are seeing now are natural moves in the eurodollar.  Dudes and dudettes, the market was dancing like a cat on a hot tin roof and just suddenly slowed to a crawl when they low of the day was threatened.  Why?  Cause that's where the buy stops are located.  Where the retail longs bail out and the new money comes in with the limit orders going short.  It's the new money that controls the move.  When you're not ready to let the market fall you have to defend that low.  At least until you're ready to turn it loose.

CHEERS, JERRY