Ireland, after just days before, steadfastly denying it needs financial help, is forced to accept help.
Down below, please review the S&P 500, especially the Fib Fan from the Great Depression and the Big 61 Fibo, both now in play, both extremely bearish
And the Euro overall up on that news. Very odd. Perhaps what they nicely refer to as an exhaustion top/spike. Which basically means a last minute manipulation before the real direction is set.
NZD as a currency got hammered in Sunday action, against all others that I viewed.
I was snaked out of my copper short, and glad I had stop in place. Somehow I got a decent fill on a gap up. Again, with Eurozone blowing up I was surprised that USD down and copper up.
Went back in short copper at a higher price---based on the PRS kickdown shown in this blog last week.
Scanning the futures and FX, I really don't see anything "obvious".
Expiry was last Friday, and often the Monday after sees some serious moves as the market gets back to normal.
STRATEGY: set some orders to activate either long or short based upon a move. For ES (S&P 500 futures) I will accept an 8 point move beyond the entry point as profit stop. And a 1.25 point stop as a loss.
And here it is, the Fib Fan from Great Depression
