The ole’ buck seemingly popped a bottle of Canadian Viagra this morning and mustered the equivalent of a currency hard-on:
I would recommend that if you’re long the buck (or short the Euro) you take profits once/if we reach 76.3.
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2:30pm EDT: Here’s my new short term SPY channel for my stainless steel rats:
I would like to see a little bounce here, at least to the center line before I entertain the notion of any short positions, even vertical spreads. Of course if we drop through the lower boundary the jig is up for the bulltards.
UPDATE: 15:00 EDT: Berk here:
Just mentioned this little diddy here to Mole. Posted it on Saturday, here is the current.
All three fractals showed a slight RSI dip in the bottom (no divergence), pushed the lower BB, and met resistance at or above the 1.382 fib extension (1058). Just a word of warning from the friendly Berk-bear.