At next EUR.JPY resistance. 131.xx. If we go through that and expand the range, SPX goes to 1050 faster than I thought. nitro
Be careful. Markets are strong, but unless EUR.JPY and CHF.JPY confirm, we are in terra incognito. I am not turning bearish. I am just pointing out that we may be short term unsustainable until currencies catch up. nitro
Hi dont, I don't have a quantitative method that tells me, SIFs are here or there based on currencies. What I have is simply some experience that has calibrated my nervous system to have a "feel" for where approximately SIFs would be were they strongly affected by currencies, particularly EUR.JPY. It is a combination of technical analysis and the market educating me, evaluated mostly visually. I wish it is a quantitative analysis, but it is not. nitro
975 ish is approximate "fair value", imo. Currencies are dead. I see no reason to expose myself to SIFs market here. Sit on hands. nitro
The European action has sent EUR.JPY and particularly CHF.JPY spinning out of control. This is very bad for US SIFs. In fact, I am a bit surprised by how well they are holding up, premarket. Long them is out of the question here until further notice, imo. Short is not a bad alternative but SIFs will resist getting too far away from approximate "fair value", which imo is somewhere near 975. Very tough. I don't like long, and I don't like short. nitro
Learn to spell, buddy. This is very bad for: i) the S&P ii) stocks iii) S&P futures Not "SIFs". We got enough acronyms as it is, don't create another ugly one that no one uses anyway.