Wednesday, October 13, 2010

Quicknote, DX is the game

Neither AUD or EUR has made convincing new highs on a horizontal basis of absolute price level, and if you look at the recent uptrends, they are even less high in  relation to the channel lines.

USD has not made new lows either.

Looks like more POMO in the future though.

hearing talk that bonds have already priced in 1.5T of treasury purchases, and that stocks have already priced in QE2/POMO----that leaves "sell the news".   Except for some pre-set shear, I will ignore the market today.

At this point though, I personally will not shear strength, I will need to see weakness before jumping in.   But HBB games will probably make any drop sharp so I will pre-program some orders with stops and limits right out of the gate.   Off on a work day.   Shearing S&P below 1172.

DX is above the PRS 133 although it did give up the PRS 177.   Also good support at a daily Person Pivot, which is also a nice pattern of a slightly higher low for a double bottom.  

Funny thought...the "bull market" in foreclosures is yet another bubble.   Gov intervention making and popping yet another short sale "bubble" with "Repo gate"

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