Thursday, June 14, 2012

Euro as the Crossroads, ES looks ready to launch

Of course, Euro and ES go the same direction most times, because it is Ol' Bucky the USD driving the value of assets, or should we say that the value of assets is continually being repriced in term of the number of dollars you need to buy them.

You know I was thinking “down” however, looking at my prior blue target boxes, I should learn to trust my target boxes more……

And the first one is at the 61 Fibo, so I really have to say…..up

And ES is bouncing along the B100 channel line, looks like it got tired of testing that line and is now launching up, dragging Euro with it.

Hmmmmmmm, I need to change my down bias to UP…..BUT only after a real break of the line

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Insightful and Useful Comment!