Given the steadfast relation between USD and SPX (inverse that is), that would put a damper on SPX downward motion.
But SPX is at an important PRS channel line also.
Euro seems to have "broke the mold" but the Forex also is gamed more than equities.
I do not believe "baked in the cake" thinking / promotion. The greek swans will eventually come home to roost, as with the Spaniard's own special brand of goose to be cooked.
It won't matter, until it matters. It is impossible to trade this market fundamentally. The casino version, the concentration of money and trading information has made it so.
For now, the strongest stuff I have says short ES short Euro.
China beat its production numbers and the futures took off. PPI was very tame and they took off a little more.
ReplyDeleteI'm not buying it. Looks like a typical bear market moonshot, destined to splash down fast.
Dollar pulled back a little farther than I thought it would, but nothing egregious. Just a matter of time, and shouldn't be much time, either.
It was a nice shake out move that knocked out 40% of my Euro short, but now Euro turning down pretty hard. Awwoooo full moon.
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