yen retrace from max 2.60% against majors (max 4% vs aj) nasdaq retrace 6.23% sp500 retrace 7.44% dow retrace 7.26% so this level of retrace was very important
This is a great shorting opportunity across the board in the EMU and US markets. Everyone is crossing their fingers that the EURO/IMF/EMU bail out is going to move forward in a fluid motion. I do not. In fact, many Hedge Funds have moved to cash in the last few weeks and are not committing to any positions in the US and EMU Markets. The calm before the storm is upon the Global Banking System. There are ZERO logical reasons to be bullish at this time. There are countless logical reasons to get short into Rallies. FEAR is controlling the sheep and they will run as fast as they can as soon as a hint of capitulation or panic sets in. It has not yet, we have witness pure strategic selling, orderly and precise.