Tuesday, August 31, 2010

Gap fill on ES and Cable becoming non-correlated with SPX


That may have been on obligatory swat down after the gap fill.
Yesterday daily volume was low.   Ramps are cheap to do, and no one wants to stand in their way.

I have noticed more and more divergences from Cable and SPX, and this month their correlation is becoming very low, not sure what to make of that.   AUD/USD is way more correlated, I guess I have to start keeping an eye on those Aussies.