Day 16
Situation:
U.S. Markets: Waiting for FED decision … down a bit this morning on UBS write off (10 bln $) and capital increase (total of 19bln chf) which highlightes struggling financial sector … BUT … a lot of money seems to be available for the big banks who take action on their problems.
Asian Markets: Slightly down, despite China which was small up … Rumour, Rio Tinto will be snapped up by Blackstone together with Chinese partners.
Commodities/Currencies : Yen trades sideways, Oil stays below 88$ … helping the FED 
Events: US … pending home sales … 10 yr note re-funding announcement
Ideas/Strategy: … Dax still should see some pressure to the upside … let’s see how the UBS news is taken … I see it positive … all in all I expect a flat day as Fed decision looms
supports: 7980 … 7960 … 7918 … 7880 … 7850
resists: 8029 … 8042(IMPORTANT!!!) … 8080 … 8130
Tags: China, daily outlook, FED, Rio Tinto, UBS
