'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Sunday, November 27, 2011

IMF Package Denial Sends ES And EURUSD Tumbling

Well they bought the rumor and now comes the sell-the-news/rumor/denial part of the evening as Dow Jones cites an official that 'No Discussion Within G-7 Of Reported Large Package For Italy".

EUR lost 40pips and ES around 10pts as the latter compressed close to CONTEXT's broad risk view of the world.