Technicals: Substantial breakout of last week's range, space between EMA10 and SMA20 widening, price testing the 1220 all year high. And expecting 1220 to break later.
Market sentiment: every risky asset is on the rally. Bond ralling as well responding to the QE2 size. Extremely bullish after Fed's 600bn QE2 announcement.
sepcial timing: Non-farm payroll on friday.
Conclusion: Daily chart strong trending, but close to important resistance at all year high 1220.
Daily strategy: Buy into dips (23.6% daily retrace), and short 1220(cash level) at the first touch.
