So despite a move up in the US dollar, stock including industrials and materials have also been moving up. I can't figure it out, but the has EuroUSD has achieved a goal, of sorts.
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Friday, December 11, 2009
EuroUSD: Completed Bearish Wolfe Wave
EuroUSD has completed a bearish Wolfe Wave upon reaching the target today. The odd thing is that the indices, SPY, and especially XME had been moving pretty much in lock-step with the EuroUSD-- until this week
So despite a move up in the US dollar, stock including industrials and materials have also been moving up. I can't figure it out, but the has EuroUSD has achieved a goal, of sorts.
So despite a move up in the US dollar, stock including industrials and materials have also been moving up. I can't figure it out, but the has EuroUSD has achieved a goal, of sorts.
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all the stops were on the november low.. they are all stopped out or selling it. So it bounces, and gets Above there again, and they all go short, and those that went long start taking heat.
ReplyDeleteI've heard a lot of money managers saying that they are "raising the stops" on their stock holdings with many believing a correction is in the cards.
ReplyDeleteWith sentiment bullish and stops being raised, it seems like a set up for a significant correction. Stop after stop could be triggered on the down side. I'm just puzzled why the stock market has held up with such dollar strength.
I would be very careful of any stocks in the eurozone
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