Head & Shoulders on the German Dax
the 30 minute chart of the German Dax displays a clear head & shoulders pattern that if it works out has a final target just at the September lows. We don't see a clear entry signal however unless the index today closes below 5750. correlation across assets is very high at the moment and the […]
When Are Italy’s Debt Payments Due? Important Charts
Note the big bond repayments due in 2012 and 2013…which is why Italy 2 year debt only yields 50 bps less than Italy 10 year debt The Italian Sovereign debt curve is shown below in orange…compared to the Euro Swaps curve in white.
USD/CHF might have further upside still
The Swiss are still doing much to devalue their currency, especially against their main export currency, the Euro. Note however the recent strength that the USD has shown against the Swissie…it the recent resistance zone near 0.93 can be overcome then parity may not be out of the question within a few months.
Global Workforce Aging…
Morning Thoughts November 18
With yesterday's selloff stocks and other risk assets came to important support levels. Yesterday's session came on good volume although not great volume…and the SPX found support at teh 50 sma. Some stop losses certainly triggered, the question is if that was enough for longs to get the upper hand again…we shall see. On the […]
very little to report
there's so little to report I might as well not write anything…which is essentially what i'm doing here… yes it's a risk off trade but note that support at the 50 sma on the SPX and the 1200 level isn't far away…not saying it will hold, just pointing out levels banks are holding up a […]
Why isn’t the Euro falling much more?
Here are a few reasons: u.s. yields are low potential qe3 in the u.s. european citizens repatriating money to meet margin requirements
They call it the ‘Pennant’ in the S&P 500
I've discussed this multiple times of late but it is worth repeating: technical levels, formations, and other charty stuff once it gets recognized by the mainstream financial media most likely won't work out in a classic way. So, if we consider the media attention the the current pennant/narrowing trading range/triangle…whatever you wanna call it…has gotten, […]
Morning Thoughts November 17
Santa's sleigh more ore less crashed in the last hour yesterday and overnight. So, that makes today's session potentially the most interesting/important one in almost one week. I shared the below chart of the pennant formation in the S&P 500 yesterday but it is worth pointing out again. Given the broad based media attention of […]
Gaps on either side of the market again this morning
After failing to fill either gap the past three days we again find ourselfes trying to wonder which one will fill this morning. Keep them on your radar as reference levels at the very least. Once filled they may serve as support/resistance for a while.