Intraday Market Thoughts

Archived IMT (2010.11.02)

by Ashraf Laidi
Nov 2, 2010 2:58

5-GRAPHS-in-1; Combining EURUSD, SP500, Greek/Portuguese/Spanish Spreads vs. Germany The top half clearly shows the highly correlated failure of both EURUSD and SP500 to close above their 200-week MAs, while the lower half shows the notable (and simultaneous) rise in Portuguese, Greek & Spanish 10-year spreads relative to Germany. JC Trichet warned France and Germany against shouldering the cost of any future bailouts with bondholder funds via debt restructuring and said that taxpayers should finance any future Eurozone bailouts. WATCH THE $1.37 support very carefully.


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