Reversal day, if you buy this reversal be cautious that you are buying the longer-term trend and not stepping into a beartrap
Currencies are mixed and a crushing selloff in stocks, so much for yesterday’s rally
Market is clearly still in risk-off mode
Following July’s bear market rally we have seen a crushing selloff following every attempted rally, today could be the start of another leg down,
Stocks ( S&P500) are down 22.56% YTD, making this the 6th worst year in history for US stocks, and we still have 3 months to go
big rebound day for the Pound
We end the month with more blood on Wall Street , that is one huge gap between Strong and Weak
Yup, grabbed some profit from the up-tick last week, but now I’m back in the fold.
Reversal day, big uptick in stocks and risk-on currencies, but is this the end of the bear or yet another bear trap. I would be cautious here
Huge follow through day for stocks, but oddly the risk-on currencies are down
remember how green everything was yesterday
So what does this imply to the top trade, EurNzd or EurAud?
Nothing except plan on a wide stop, and greater risk
here is a pretty good piece why the British pound has collapse
Those of you living in the UK, please way in on how accurate this is
It sounds like 2008 all over again
I think I’ll be OK as long as I don’t ever buy anything ever again.
I understand that the consensus is that everything will probably keep just going down, but the USD/GBP is now above where it started on “black friday” and is now between the 20 and 50 MA on the 1D charts. Yes, our economy is a basket-case at the moment, but I always get wary when there’s too much agreement…
Outside of food that is pretty much what I am doing, if it gets any worse there are plenty of squirrels running around here
this is why you do not chase these moves, and when something gets a lot of media attention the worse might already be over
Another wild ride, stocks retraced most of early trading losses
Every pullback is buying opportunity for the US dollar