Dislikedit might be just an unlucky number - June 13. Why did it happen on Wednesday? I have no idea. I looked at the Dow, yes it was almost flat today but then bang! Looks like today's positive news from the US (Retail Sales up beating expectations) had no impact on euro at all as its dollar counterpart. What apparently happened is that the smart money (oxymoron) took almost half a day to realize that more sales = more inventory orders also propelled by a cheap dollar = expectations of higher stock earnings. So, the money moved again overseas to borrow the hammered yen (will they ever stop printing it?) and buy stocks. Dow surged in the afternoon hours. I saw this only after the fact. Dollar-yen will probably take out 123.00 today (but do not buy rumours!) and I will want to see if it builds value beyond that mark, i.e. staying there, at least for 2 days.Ignored
Ahh...if only I had know the date.... (I really think 13 is lucky...)
Interesting that the market rallied today....last Wed. Bloomberg reported a new "trend" where the Dow had been down for the last 4 Wed. then rebounded on Thursday....So last week was the 5th week it happened (the next report correlated it as a sign the bull run was over in Dow)...So, this week...The market manipulators know everyone is going short?
Now, Bloomberg keeps talking about how strong the dollar is getting...just broke important level on the dollar index, and the bear run is done...hmmmm...? Last month the dollar was collapsing.....
Gotta love the spin doctors!
Hope everyone has been trading... well this week (it has been hard)...Cable should finally break soon...Notice price is squished between 89 and 8 on daily and all the longer term averages on 4 hour seem to be narrowing...is a change of trend near for Cable?
I'm still blown away by Ira's analysis of U/J! Never would have thought 2 days ago 123.00 was in the cards.....Only FXHermit and Ira!!
Nice Job to the new participants who had their first win yesterday w/ E/U countertrades!
Happy trading!
Pips