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Careful Now

by The MoleJuly 19, 2010

I don’t like the participation readings this morning – plus NYSE A/D ratio is near bullish territory. One chart you may want to watch is this one:

The Friday slump served to completely reverse the medium term overbought condition on the AUD/JPY. We are now potentially at the brink of a ramp up on the FX side, which most likely would serve to give equities a boost as well. As a matter of fact, while I’m typing this ES futures are already attempting to breach above VWAP after having tested it twice before in the morning.

Caveat Ursi.

Cheers,

Mole


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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