In case you have been hiding under a rock this weekend I’ve got good and bad news to report. In true Evil Speculator fashion let’s start with the bad news first: Malcolm Young died this weekend and rock & roll will never be the same. I was literally close to tears when I heard as Acadaca (how it’s often pronounced down under) was a huge inspiration not just for me but for my entire generation of troublemakers, and it is probably single handedly responsible for at least 10% of reported hearing loss in the West.
It’s time to talk about Forex as the temporary Dollar rally has effectively ended and is now launching significant advances in various cross pairs. You may recall I have been anticipating this very scenario since Monday after seeing a potential floor pattern on the EUR/USD in particular [1][2]. Unfortunately however the one pertinent horse I had in play appears to be the lame laggard of the bunch, which means I’ll have to find myself a sturdy banana tree later this afternoon.
It’s been a pretty event filled and exhausting week for me which I’m more than ready to kick up my feet and call it casual Friday. But not so fast – equities once again are on the rebound after yet another shake out dip lower, and that opens up a potential entry opportunity. Yes, I know you’re ready to call it a week yourself but let’s at least take a peek, shall we?
Alright, let’s talk about what exactly happened yesterday when equities effectively fell off the plate mid session after which the plunge protection quickly stepped to push the tape back into politically correct levels. Of course I’m kidding: If you’re looking for conspiracy theories, innuendo, or rumors then please move along. We only concern ourselves with technical evidence and bad humor here at Evil Speculator.