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Careful Now

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

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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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