Market Outlook

LONG TYP at $20.20 waited for it to break $20 but didnt happen at the open....also long ZSL at $14.39

 

We get a good dollar pullback at last.
SP500 intra reverts to bullish and daily is now neutral.

 

SP500 intra chop reverts back to the usual bearish again.
Updated Nasdaq chart at blog.

 

Why are you both long and short the Singapore dollar, if you are a dollar bull overall?

 

More USDX retracement (much needed) and USDX intra trend now choppy bearish. So should be bullish stocks ?



noddyboy,
Medium / long term I remain USDX bullish but shorter term can go long or short.

 

Great call...I trade stocks not currencies, but I was short FCX to get the bullish dollar view.

 

Every time the market looks like its going to break support and drop it rallies to the upside and every time it looks like its going to break to the upside it falls back down, this market has done this at least 5-6 times over the last 2 months. SPX 1120 is the breaking point for this market, it has held up quite well since August but a drop below that and SPX will quickly drop to 1050 area!

 

It sure is a good thing we have you to tell us what has already happened.

 

Due to USDX daily and weekly trend strength, retracements are minimal.

Trending well atm: GBPCAD GBPNZD EURNZD USDCAD GBPAUD USDSGD USDCZK

 

SP500 8 hr chart at blog shows price converging towards apex.
It should drop out of triangle soon and resumption of downtrend.