The market is wandering at the moment, trying to establish some tone for the day. It looks weak at the moment, but in the absence of any fresh news/rumors re the German court ruling and/or QE3, I suspect most traders have already either placed their bets or taken their money off the table. One of … continue reading →
Tag Archives: DX
As we anxiously await Bernanke’s big show, the market is putting on a little show — reaching the 1409 target we mentioned yesterday (and then some.) If Bernanke disappoints, as nearly everyone now seems to think he will, that should just about do it for this retracement. As I’ve posted for the past several days, … continue reading →
ORIGINAL POST: 9:30AM The dollar and the euro each overshot our short-term targets just a tad, but are resuming the path we mapped out for them last week. The EURUSD came very close to a key .886 Fib level, prompting many to wonder “was that it?” I wasn’t so sure, myself. The resultant sell-off was … continue reading →
If you found yourself scratching your head today, you’re not alone. SPX finally shed a couple of points — the first loss in seven forgettable sessions. VIX reacted by selling off by 1.04. Huh? DX followed suit, settling 0.18 after being down as much as .66 from Friday’s high. Come again? I wrote about VIX … continue reading →
VIX overshot its .886 on Friday, losing .60 in the same way SPX gained 3 points — all in the last few minutes of the session. Is this price action a signal of a continuing rally, or is it a futures related drop that signals the rally’s last gasp? As of the close on Friday, … continue reading →
There is significant negative divergence on the dollar on both a daily and weekly basis. DX is also very close to completing those harmonic patterns it hasn’t already completed. It’s approaching the .707 of the largest (yellow) pattern, tagged the 1.272 of the next largest (purple) pattern, tagged the 1.618 of the red pattern, nearing … continue reading →
Looks like I jumped the gun Friday, getting back in too early after scoring 15 points on the downside. We have a substantial cushion, being up 626 points/45% since inception on March 22, but I really hate giving any of it back on a off-hours dump like this. As I posted Friday: If you didn’t … continue reading →
We’ve been keeping a close eye on the US dollar, which as a safe haven, continues to move inversely to equities. I remember reading Aftershock a couple of years ago. It made the very convincing argument that the US dollar would be destroyed by disastrous fiscal policy and runaway debt. The advice was to dump … continue reading →
The euro is again hanging by a thread. Recall it already broke down from and is back-testing a big channel (solid red, below) that dates back to 1997. Its weekly RSI, however, looks like it could have some life left in it. First, I should make clear that I think the euro zone is toast. … continue reading →
Note: only six charter memberships are left as of EOD Thursday. I’ll keep this going until they’re gone. Congratulations to E.J., P.B. and T.J. for locking in today’s annual rate for the life of the site. * * * * * * * * Well, we got the rebound we were expecting…although it was a … continue reading →