Monday, September 14, 2009

Morning Briefing for September 14th: Forming a Range

With U.S. dollar strength and commodity weakness early this morning, we've rolled back some of the risk trade of the past week. That has set us up in a range defined by the lows of 9/10 and the Friday highs. Stocks have been trading closely with the dollar overnight, so I'll be tracking that correlation in early trade. Ability to hold the overnight lows in early trade would set up a nice range trade back to the day's VWAP and pivot levels. I'll be following intraday sentiment early in the session with tweets and intraday posts.