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Posts by "ginger"
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Posts by Anonymous "ginger":
EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
It's been strange yesterday and today with $ strength, VIX relatively steady between 16.5 & 17 and yet equities don't want to go lower. Ratio now over 70 (surely the VIX is poised for a rise now) again and the bull market continues. Question is will there be a decent sell off (like you I think we're overdue one) or will we get mini steps back and giant leaps up until the oft talked target of 1250 is reached by April/May.
Ginger
I'm glad I'm not the only one swimming against the tide. What is interesting is that Bob Prechter was on CNBC on Friday calling a double top in the market - he talks a lot of sense and I respect his views - he's called the market down for a while now but with so much interference from the govts around the world he can't be blamed for getting his timing wrong - i.e. the markets are overshooting.
Looking back over the last 5 years on the DJIA the RSI is near its highs now. With India raising rates and China to follow soon we could be in for a rough few weeks as commodities sell off. My guess is for a shallow sell off before April followed by another high in April/May and then the resumption of the bear market thereafter.
G