As long as the Euro can hold this line, the bulls have a chance to run with it here. It’s as easy as 123:
The above chart coupled with the chart I posted in the previous post, is why I decided to deploy some capital to the long side near the bell today (all trades noted in the user note section of The PPT).
I am short to long term bearish here, but believe a bounce is near. I will continue to watch the Euro, oil, The PPT hybrid score, and the XLF for clues on market direction.
ChessNwine pretty much summed up everything you need to know in his latest post, give it a look if you have yet to do so.
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Thanks for the shout, RC. If the new round of hammers printed on the various daily charts fail yet again, it would be an awful sign of supply overwhelming demand.
Agreed. I will be quick.