Friday, July 16, 2010

Eur and ES technicals

The Euro bounced down off my unorthodox Fib 61, see chart.

My prediction of "Dine in Hell" from Wednesday night, came true.
ES appears to have mostly decoupled from the Euro, and the bond and US FX markets are just acting kind of weird.   Flight to safety or flight to inflationary monetary practices?

When the old school practices of safe haven are tried, and a Gila Monster is lurking therein --- perhaps then the real panic starts.

ES did a nice backtest on the 100% channel of the PRS 133.    Unfortunately unless you were trading late Thursday, uh, I was doing drywall....ouch.    But was 50% in on a short futures, so that was nice.

This is expiry, so Monday and Tuesday next week can definitely see some big moves.    I will remain 50% short.

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Insightful and Useful Comment!