How long do you really think this can go on?
If you ask me…… I’d pretty much say “today is the day”!
China PMI data overnight comes in “under 50” yet again, marking the 5th straight month of contracted growth, Japan is in shambles, The EU Zone toast, and The United States continues to just keep “racking up the credit card”.
CNBC HEADLINES ARE FLAT OUT 100% FALSE! CHINA NUMBER IS -NEG NOT A POSITIVE!
Broken record yes, but as I’ve stated so many times in the past – If there was something “positive” to talk about then I would! From an investor’s perspective if the lights aren’t clearly “flashing red” then I’d put into question what kind of an investor you are.
The insider selling and “distribution” that has taken place over the past 6 months would have it that “pretty darn soon” the big boys will have everything in place to “drop this thing like a rock”.
Even the commodity currencies have now started to tank, and the Japanese Yen ( the big safe haven / repatriation play ) has locked in a very solid and confirmed UPTREND.
I’m adding to my short SPY / U.S Equities as we speak.
what do you think of EWV 70.24/70.35 b/a right here?
I much prefer the vehicle “EWJ” considering it’s only 11 bucks.
Hey Dr.Kong…. hoping all is well… with the new site…..
As for DXY strength – I have a 8hr fire close to printing a positive fire here… Should fire positive here driving the DXY to test the $80,50 res level but then get rejected again for a third time around…. I have a weekly set-up but do not think the 8hr fire will trigger the weekly to go off…. This should just be a bounce here – Commod’s ( Oil, PM’s etc. are not buying the DXY strength and could be a early sign this is just a bounce here
I would think the $80.50 level should reject this move & we continue lower…..
All the best,
Cheers Schmed
Been holding off on any new trades USD, of short AUD and NZD as of late.
It still hasn’t made up it’s mind so I’ll continue to sit patiently with no trades vs EUR, GBP or CHF open these days.
Yeah – I am also waiting for a break & hold above the $80.50 Res level…. I don’t think it will be one never knows…
As mentioned I think all commod’s are sniffing out this DXY move as just a bounce here… we will know soon either way.
Thanks for your comments Kong,
Cheers Schmed,