Funny you should ask, I meant to post a chart yesterday.
I think this is a favorable development. It suggests the banks may be stepping away from whatever precipice was coming into view late last year.
It fits with the strength in financial stocks recently. Perhaps the steps taken in Europe have alleviated the funding stress.
I would like to see more followthough on TED Spread in case the recent move is just a beginning of year thing,
but I have been noodling the idea of longing financials if we can get some kind of pullback here.
I read in an FX forum, that EURO capitulation is expected below 1.26. I do not know what does that mean...
exhaustion selling should push eur below 1.26 before a major rebound occurs. we'll get COT reports for eur positioning again today...should show increased eur short positions...might not be many people left to short euro after this.
I'm Glad to be back somewhat.Been sicker then a dog for the last few days..I have a short that may do good as the mkt goes dn .CVLT..This is not for the faint of heart.It will have some good moves and $ will be made on swing trades and sometimes on daytrades.You have to watch it.Look at your charts and then lets see.
soku wrote:i see a small reversal pattern possibly around es 1277.my bounce target could be 1285-1286 area.
overall i still believe the top was in yesterday
if no surprising news, the small bullish pattern is still there. 1272 reversal would cause difficulty to calculated target tho. maybe 1281-83
The goal is not uniformity. It is understanding and idea exchange.
Pilot Short is still on but was reduced yesterday...so, today's crack is right on cue.
Longs taking profits and looking to sleep easy over the long weekend.
Max Pain for OPEX next week is 126. So, perhaps we have started the move to reconcile with that.
Too soon to judge the intermediate implications but for those fishing for a top, we're getting some bites here.