Monday, June 14, 2010

Euro Cat is Out of the Bag

I am going to leave the comment below in it's entirety---it is funny how hours after I caleld the Euro "out of the bag", that Greek debt get downgraded to junk and a massive selloff occurs.   The timing is incredible, tin-foil hat type incredible.

There is occasionally some throw over even beyond the yellow outer 133 channel line. 

But this is "too much" IMHO.

So now only 2 option for the bearish position:
1) We bounced down from strong support at around 2279 on the Nas, 1106 on the SPX, 10330 on the Dow.  All with hammer candles.
1a) This is the longest shot--because the Euro and the SPX have been joined at the hip for so long.   Is that these would now decouple.

or --much more likely--

2) Euro will drive the SPX higher, pick your percent, pick a Fib, could be large.

That said, a number of intermediate indicators ought to be reversed to be bullish by an increasing overall market.   But all the other indicators and custom charts, and ratio charts say that this market is a crispy critter.


  1. Count me in the "The Market is a crispy critter" camp....

    BTW, I see you dumped DISQUS too.

  2. Good catch, I thought disqus would transfer over with my "migration" but I guess it didn't I hate it/love it that disqus.

    Will implement again. How is the north country?! Bet it is beautiful this time of year, do you get those no seeuum or the black fly at times?

  3. The mosquitos have just appeared here


Insightful and Useful Comment!