Intraday Market Thoughts

It's all about timing

by Ashraf Laidi
Sep 9, 2016 19:44

It's all about timing. Less than 24 hours ago we posted “the mystery” chart showing a rare combination of a doji and Death Cross. We asked non-Premium members to guess the instrument. Our Premium members had already shorted it. The chart turns out to be the Eurostoxx50, which fell 1.7% in after-hours trading. Yesterday, we tweeted the latest DAX30 chart and the recurring failure to fill the gap-down from January 4th. After 6 failures, the DAX has given up and is on its way to the preliminary target of 10420s.  

What is the cause?

Reporters will tell you that remarks from Boston Fed president Eric Rosengren about modest wage growth returning in the US and little evidence of downside risks to the global economy being the culprit. Another reason? USDX had enough from testing the May trendline support, gold unable to break the 100-week MA or VIX cannot be remain unable 12 when US profit growth is negative and equity indices are at their tightest range in over 10 decades. Yes, since 1916.  Our Premium short in the DOW30 was closed at 18180 for 400 pts, leaving other trades open for our subscribers.  


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