Dollar Bounce: $95 technical support Lets recall the 4 major components of the Dollar Currency Index $DXY, by weight: Euro (EUR) - 57.6% Japanese Yen (JPY) - 13.6% Pound Sterling (GBP) - 11.9% Canadian Dollar (CAD) - 9.1% Now we can see that the DXY bounce is primarily as result of Euro depreciation, relative to … Continue reading GOLD vs Dollar
Christmas eve posted a -2.06% day on the S&P500, when markets opened again on the 26th we closed up 4.43% (more than 100 S&P points). The DOW posted up 4.67% (+1,020 DOW points). Is this how we bottom? I don't think so. Since the Dec 26th intraday bottom of 2346 on the S&P, we … Continue reading The Ultimate Short Setup?
Last week we started off 2019 with a slide in equities, the S&P500 testing and selling off the 2520 resistance level. My thoughts at the time being that this was a significant resistance and we would not breakout from it proved wrong as the market ripped through on Friday. Fueled by the hope that Powell … Continue reading Starting 2019