European markets are ripping to the upside, up more than 20%–led higher by France’s CAC which is up 2.38%. As such, Dow futures are up 90, as traders fix their bayonets and prepare to impale the bears and kick them back into hell.
Dollar v Euro is continues to gain, heading towards parity, now with a $1.06 handle. Oil is lower by 0.5%.
Today’s rally isn’t contingent upon oil or currencies. Apparently, people are wholly interested in buying stocks, which makes me wonder about traps being laid out by the evil muppeteers of this market.
Nevertheless, I look forward to a fun filled day of higher equity prices, even if they’re fleeting.
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it’s too bad chartists are never backtested for accuracy
—–> “Today’s rally isn’t contingent upon oil or currencies. Apparently, people are wholly interested in buying stocks, which makes me wonder about traps being laid out by the evil muppeteers of this market.”
I was thinking the same thing end of day yesterday. I understand rallying after what happened in Paris, but I don’t think that resolves the reasons why we were trending down last week. Probably wrong, but I think we test lower than Friday’s close by month end. Maybe by week’s end. Anyway, that’s how I’m positioned with Jan QQQ puts and Jan TLT calls.
its been a tough year