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MOST RECENT ARTICLES
I posted a chart over the w/e showing how the VIX, the ‘fear’ index, had broken up through a weekly descending trend line. This was a clear warning to traders that some increasing volatility might lay ahead. A copy of this w/e chart is re-produced below. VIX weekly: a bullish triangle breakout was noted: The bullish […]
NZD/USD: 0.7984 The Kiwi has performed very well today, despite the general risk off move and currently sits at 0.7970, close to session highs of 0.7996.Sitting on the sidelines seems to be the best laid plan for the time being, although the momentum indicators are now suggesting that we could see some more gains ahead, […]
Somewhat of a train wreck overnight for EUR shorts across the board and the market was obviously overly positioned. The fundamental back-drop for the EUR remains bearish so I think we can still sell any big rallies but short-term sentiment will have shifted somewhat after last night’s rally, so dips will also be sought-after. In […]
The pair rallied from a NY close around 1.59 yesterday to 1.6065 after the retail sales numbers came out, but has now fully reversed all of today’s gains. Bank of England’s Weale was speaking earlier and surprised the market with dovish remarks. Weale is known as a hawk within the MPC. This led to fresh […]
S&P 500 and the DJIA are now down almost 3 % on the day S&P futures had a brief bounce on the US open, but selling resumed into 1860 resistance The contract is currently trading at 1826 with daily low at 1819 USD/JPY hasn’t followed the S&P lower yet, is consolidating at 105.80 The post […]
The market is obviously very nervous at the moment and plenty of rumors are making the round, as traders and analysts try to explain what happened. The Retail Sales data was a miss, yes, but I think that this was a pure sentiment-driven move. The data alone nor the previous data releases don’t suggest that […]
EUR Consolidation continues and yesterday the Euro reversed gains as the dollar stabilised and we saw players reinitiate EURUSD shorts. I stick with the view that ultimately EURUSD will make new lows but it is difficult to predict how long this holding pattern will endure. In the meantime I am staying flexible, trading the range […]
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