Tuesday, June 22, 2010

Bounced down off 50Fib, Support by 38 Fib

I have shorted based on ---that if the support at the 38 Fib breaks, the declines could be substantial.

Also, this "push me pull you" effect with the Euro is causing multiple areas of support, but also breakage of support.

i.e. the SPX can provide energy to drive the Euro down, and vice-versa.

Bizarro world arbitrage and hedging is making this game tough to play, as well as the outright corruption and ability of single source, or multiple large source intentional ramp up and down control of the markets

Euro could now take SPX for a sled ride....that would give the Evil Bald One incentive to spur the market with some Fedspeak tomorrow on Wednesday.

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Insightful and Useful Comment!