the Aussie and kiwi are both lower. The eurjpy is the main game in town where everyone has piled in. It's up 5.6% in the past few weeks and correlates with the stock market rise. In fact, it's the eurjpy which is driving the market higher with the hfts and high leverage in the fx market.
the yen can't gain even a wee bit or it will throw the HFTs into a tizzy. Anyone who thinks there is very little leverage in the system should note what happens if the yen gains.
i don't know. But this index is still reading high today. Buyer beewear.
the only thing i see right now is that Swiss banks UBS and CS charts look weak. Maybe that has something to do with gold sinking. DB also on the weak side.
But if TBT doesn't complete the H&S that wd probably be bearish for it.
Market could reverse. This particular ratio is pretty good at determining contrarian turns. Also, TBT looks like it's doing an inverse H&S on the daily.
From a contrarian viewpoint that COULD mean buyers are too optimistic and market cc. reverse.
10/4/11 low: 1074.77
1074.77 x 1.666 = 1790.57.
Pretty lame but that's all i got for now. Busy with life and work. I do need to look at your butterfly stuff sometime. Thx buddy.
breadth is deteriorating, that is, the % of stocks above their moving averages. The Nasdaq banking sector was up 3% or so on Friday, probably because rates were up. Were rates up worldwide b/c of the France downgrade?
seriously this storm looks wicked. "“If it maintains its strength, there has never been a storm this strong making landfall anywhere in the world,” said Jeff Masters, founder of Weather Underground in Ann Arbor, Michigan. “This is off the charts.”
My prayers go out to these people. I hope they have sense to get as far away as possible.
According to Marketwatch, PCLN market cap is $55 Billion and revenue per employee is $840,000. It was a short squeeze all the way up. Crazy as heck overpriced imo.
The Dow and FTSE have been lagging. Barclays is 20% or more off the highs this year. I guess with transports going sky high, it was non-confirmation for the Dow Theory.
it could be. Although I've been bearish a few individual stocks, I thought in the back of my mind that the market wouldn't fall much b4 twitter ipo day. Last week i pointed out a print i saw on the qs a.h. in the approx 83.9 area. Today we have the dollar down vs. the euro and the Aussie which tends to correlate with elevation in the market. That or bond yields rising. Plus i think there might be more dovish fed governors speaking this week. Very tricky here. GL.